Headlines

American Greetings Sells Retail Business

New owner will operate stores under same name

Published

15 years ago

April 21, 2009

VMSD Staff

American Greetings Corp. (Cleveland) is selling its retail store operations to Schurman Fine Papers (Fairfield, Calif.), which operates Papyrus card and gift retail stores. Schurman will operate stores under the American Greetings, Carlton Cards and Papyrus brands. Schurman paid American Greetings approximately $6 million for its retail business.

As part of the deal, American Greetings is buying a wholesale business unit of Schurman, which supplies Papyrus brand greeting cards to specialty, grocery and other retailers. Following the close of the deal, American Greetings will service those accounts where Papyrus brand products are sold.

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