Card Factory on verge of £350m sale to Charterhouse Capital Partners
8 April 2010 | by The Retail Bulletin
Card Factory is expected to be sold to Charterhouse Capital Partners, possibly this week, The Times reports.Charterhouse is believed to have fought off competition from Permira, Cinven, Summit Partners and Warburg Pincus, which had expressed interest. The company, founded in 1997, has expanded rapidly in the past two years, capitalising on the collapse into administration of Celebrations, a rival. It bought 76 stores from the administrator in 2008. Unlike rivals, it prospered in the recession, with £22 million pre-tax profit on £170 million turnover in the year to January 2009. Full article here.
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