M&A Deal Summary

American Greetings Acquires Photoworks

On November 9, 2007, American Greetings acquired publishing company Photoworks for 27M USD

Acquisition Highlights
  • This is American Greetings’ 1st transaction in the Publishing sector.
  • This is American Greetings’ largest (disclosed) transaction.
  • This is American Greetings’ 1st transaction in the United States.
  • This is American Greetings’ 1st transaction in Ohio.
Investment Fate
  • Photoworks was divested to a consortium of strategic buyers in 2011.

M&A Deal Summary

Date 2007-11-09
Target Photoworks
Sector Publishing
Buyer(s) American Greetings
Deal Type Add-on Acquisition
Deal Value 27M USD
Advisor(s) Woodside Capital Partners (Financial)

Target

Photoworks

Cleveland, Ohio, United States
Photoworks Inc. operates as an online personal publishing company.

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Buyer(S) 1

Buyer

American Greetings

Cleveland, Ohio, United States

Category Company
Founded 1906
Sector Consumer Products
Employees7,000
DESCRIPTION

American Greetings is a creator and manufacturer of innovative social expression products that assist consumers in making the world a more thoughtful and caring place. The Company's major greeting card lines are American Greetings, Carlton Cards, Gibson, Recycled Paper Greetings and Papyrus, and other paper product offerings include DesignWare party goods and American Greetings and Plus Mark gift-wrap and boxed cards. American Greetings also has one of the largest collections of greetings on the Web, including greeting cards available at Cardstore.com and electronic greeting cards available at AmericanGreetings.com. American Greetings was founded in 1906 and is headquartered in Cleveland, Ohio, and its products can be found in retail outlets worldwide.


DEAL STATS #
Overall 1 of 2
Sector (Publishing) 1 of 2
Type (Add-on Acquisition) 1 of 2
State (Ohio) 1 of 1
Country (United States) 1 of 2
Year (2007) 1 of 1
Size (of disclosed) 1 of 1
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2010-02-01 Papyrus-Recycled Greetings

Chicago, Illinois, United States

RPG designs, manufactures and distributes a humorous and affectionate line of everyday and seasonal greeting cards and other social expression products throughout the U.S. and Canada. RPG sells over 100 million cards to over 17,500 retail stores in the U.S. and Canada through most major channels of distribution including mass merchandisers, chain drug stores and supermarkets.

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