Alpine Confections sells Fannie May

The floral and gift basket delivery company,1-800-FLOWERS. com,is buying the Fannie May candy brand from Alpine Confections Inc.The company will pay $85 m. The acquisition includes Fannie May, Harry London and Fanny Farmer brands as well as 52 Chicago area Fannie May retail stores and a 200,000-squarefoot candy manufacturing facility in North Canton, Ohio. Under the deal,Fannie May remains Chicago-based and retains the management team that turned the company around after it fell into bankruptcy. Alpine Confections Inc.bought Fannie May and Fanny Farmer brands for $38.9 m in 2004, a year after purchasing the Harry London brand. Fannie May is expected to generate about 75 m for the current fiscal year, which ends April 30.