Elliott Investment Management Acquires Majority Stake in American Greetings
- Editor
- Feb 3
- 2 min read
What's Happening: Elliott Investment Management has completed its acquisition of a majority ownership stake in American Greetings, a global leader in the Celebrations marketplace. The transaction, announced on December 20, 2024, has received all necessary regulatory approvals and met closing conditions.
The Key Moves:
Elliott acquires majority ownership of American Greetings, with CD&R and the Weiss family retaining significant minority stakes.
The deal aims to leverage Elliott's sector and international experience to support American Greetings' next growth phase.
American Greetings maintains its position as a creator and distributor of physical and digital Celebration products worldwide.
By The Numbers :
Elliott Investment Management manages approximately $69.7 billion of assets as of June 30, 2024.
American Greetings operates iconic brands including American Greetings, Papyrus, and Carlton Cards.
The company's digital business includes popular brands like Blue Mountain, Jacquie Lawson, SmashUps™, and Creatacard™.
Key Quotes:
Joe Arcuri, CEO of American Greetings: "Elliott shares our vision for growth and innovation, and together, we will leverage our combined strengths to create greater opportunities to drive growth that will benefit all our stakeholders."
Paul Best, Senior Managing Director at Elliott: "We are looking forward to partnering with the American Greetings leadership team, CD&R and the Weiss family, and using our sector and international experience to support the next phase of the company's growth."
*KQ3*
The Bottom Line: The acquisition of American Greetings by Elliott Investment Management marks a significant shift in ownership for the global Celebrations company. With Elliott's financial backing and expertise, combined with the continued involvement of CD&R and the founding Weiss family, American Greetings is positioned for potential growth and innovation in both physical and digital celebration products.
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