Clayton, Dubilier & Rice and American Greetings Corporation today completed the previously-announced transaction in which CD&R-managed funds acquired a 60% ownership stake in American Greetings, a designer, manufacturer and distributor of greeting cards, gift packaging, party goods, and stationery products. The Weiss Family, descendants of Jacob Sapirstein, who founded the company in 1906, retained a 40% stake in the business.

American Greetings has the number one position by volume in the $6 billion North American greeting card market, with several iconic brands, including American Greetings, Papyrus, Recycled Paper Greetings, Gibson, and Carlton Cards. The company currently provides products to more than 60,000 retail stores and maintains a portfolio of 440 patents, more than 2,500 copyrights, and 1,000 trademarks.