American Greetings gets financing commitment for buyout by CD&R

By Sara Rosenberg

New York, Feb. 13 – American Greetings has received a commitment for financing to help fund the acquisition by Clayton, Dubilier & Rice of a 60% ownership stake in the company, according to a news release.

Barclays, Deutsche Bank Securities Inc., Citizens Bank, ING Capital LLC, Bank of America Merrill Lynch, HSBC Bank USA, Sumitomo Mitsui Financial Group and KeyBanc Capital Markets provided the commitment.

The Weiss Family will retain a 40% stake in the business.

American Greetings is a Cleveland-based designer, manufacturer and distributor of greeting cards, gift packaging, party goods and stationery products.

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