Consumer/Retail

Elliott Investment Management to acquire greeting card producer American Greetings

Clayton, Dubilier & Rice and the Weiss family, descendants of Jacob Sapirstein, who founded the company in 1906, will maintain a significant minority ownership stake in American Greetings.

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  • Paul Best from Elliott will assume the role of chairman of American Greetings post-closing
  • The transaction is expected to close in the first quarter of 2025
  • Founded in 1977, Elliott manages approximately $69.7 billion of assets as of June 30, 2024

Elliott Investment Management has agreed to acquire a majority ownership stake in American Greetings, a Cleveland-based greeting card producer.

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