Private equity firms vie for Card Factory

A NUMBER of private equity firms are competing to acquire greeting card retailer Card Factory, according to reports.

First round bids for the business, which was founded in Yorkshire in 1997, were due on Wednesday, according to industry sources, as its owner Charterhouse made the decision to continue with the sale.

Those interested are thought to include Cinven, Advent International, KKR and Clayton Dubilier & Rice.

Card Factory was founded in Wakefield by husband and wife team Janet and Dean Hoyle in 1997 and was acquired by private equity firm Charterhouse in 2010.

It is thought a sale of the 650-store business could raise more than £500m.