Greetings Today magazine, giving you the bigger picture

American Greetings buyout finalised

Private investment firm seal deal for 60 per cent of UKG’s parent company

 

CLAYTON, Dubilier & Rice and American Greetings Corporation have completed the previously-announced transaction in which CD&R-managed funds acquired a 60 per cent ownership stake in the gift packaging, party goods and stationery giants.

The deal was finalised on Friday, April 6, with the Weiss family, descendent of Jacob Sapirstein who founded the business in 1906, retaining a 40 stake in the parent company of UK Greetings.
The move by the private investment firm was announced on February, with Dewsbury-based UKG being part of the transaction, while the Weiss family are keeping full ownership of Clintons, the British retailers AG acquired out of administration in 2012, and American Greetings Entertainment.
Current president and chief operating officer John Beeder has now become AG’s chief executive officer, with joint CEOs Zev and Jeffrey Weiss moving on to the board along with their father Morry (pictured), who was chairman.
American Greetings have the number one position by volume in the $6billion (£4.26bn) North American greetings card market, with several iconic brands including American Greetings, Papyrus, Recycled Paper Greetings, Gibson, and Carlton Cards across their portfolio.
The company currently provide products to more than 60,000 retail stores and maintain 440 patents, more than 2,500 copyrights, and 1,000 trademarks.



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