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Clayton, Dubilier & Rice to buy majority stake in American Greetings

Clayton, Dubilier & Rice and American Greetings Corporation have announced that funds managed by CD&R will acquire a 60 percent ownership stake in American Greetings, according to PE Hub. Financial terms of the transaction were not announced. American Greetings is a manufacturer and distributor of greeting cards, gift packaging, party goods, and stationery products. Barclays, Deutsche Bank Securities, Citizens Capital Markets, ING Financial Markets LLC, Bank of America Merrill Lynch, HSBC Securities (USA) Inc., Sumitomo Mitsui Financial Group, and KeyBanc Capital Markets served as financial advisors to CD&R on the transaction. Centerview Partners served as the financial advisor to American Greetings.

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PE Deals,private equity,private equity deals