Harry and David Holdings Inc. said Wednesday that Harry and David Operations Corp. on Tuesday completed sale of its Jackson & Perkins rose business. The sale was initially announced last week.

An investment group led by Donald and Glenda Hachenberger of Florida purchased Jackson & Perkins assets, including the direct marketing and wholesale businesses, the brand, catalog, e-commerce Web site and associated inventory, including premium rose plants, horticultural products and home and garden décor, as well as its direct marketing and wholesale customer lists and relationships.

Harry and David Holdings said the sale price was $17 million in cash and approximately $4 million made up of a deferred note, product credits and deferred inventory payments. The Medford-based company said a second transaction covering the sale of Jackson & Perkins' 3,200 acres of real estate in Wasco, Calif., buildings and equipment to a private investment group in California will close prior to June 30. The divestiture totals $49 million.

Harry and David Operations Corp. is contracted to provide transitional agricultural and horticultural services through the end of June 2007, wholesale operational services during 2007, and direct marketing operational services and rose shipping through the end of June 2008.

WR Hambrecht + Co. of San Francisco Hambrecht offered advice in the transaction.