Foster & Gallagher, a marketer and distributor of horticulture products to consumers, announced a joint venture agreement to form a new company, gardensolutions.com. Brand Equity Ventures of Greenwich, Conn., and General Catalyst, Boston, are investing $10 million in the new, separate company that will compete in the $50 billion online lawn and garden industry. The new venture will be promoted through the parent company's direct advertising mailings for brands including Breck's of Holland, the Garden Store, Spring Hill Nurseries, Stark Brothers Nurseries, Gurney's Seed and Nursery Co., Henry Field's Seed & Nursery Co., and the Vermont Wildflower Farm. Separately, Barry Marchessault, former president of Bloomingdale's by Mail, has been named president-CEO of the new company.
Copyright September 1999, Crain Communications Inc.