Private equity firm to take over bridal and event wear retailer
Posted August 29, 2012
David's Bridal Inc. (Conshohocken, Pa.) has accepted an offer to be acquired by private equity firm Clayton, Dubilier & Rice (CD&R, New York), Women’s Wear Daily reports. The terms of the deal have not been disclosed, but WWD says the retailer is valued at about $1.05 billion. CD&R operating partner Paul Pressler, a former ceo of Gap Inc., is expected to be named chairman when the deal is finalized.
David's Bridal operates more than 300 stores across the U.S. and five in Canada.