ELLIOTT INVESTMENT MANAGEMENT CLOSES ACQUISITION OF MAJORITY INTEREST IN AMERICAN GREETINGS | PR Newswire [Video]

, /PRNewswire/ — Elliott Investment Management L.P. (Elliott), Clayton, Dubilier & Rice (CD&R), and American Greetings Corporation today announced the successful completion of the previously announced transaction in which Elliott acquired a majority ownership stake in American Greetings, a global leader in the large and enduring Celebrations marketplace.

Recognizing the tremendous opportunity ahead, CD&R and the Weiss family, descendants of Jacob Sapirstein, who founded the company in 1906, will maintain a significant minority ownership interest in American Greetings.

The acquisition, announced on December 20, 2024, has now met all regulatory approvals and closing conditions.

Joe Arcuri, CEO of American Greetings, said, “This is an exciting time for 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, including our consumers, customers, and associates around the world.”  

“We are looking forward to partnering with the American …