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Clayton, Dubilier & Rice to acquire David’s Bridal

Clayton, Dubilier & Rice is to acquire David’s Bridal, a retailer of bridal gown and wedding-related apparel and accessories in North America.

Leonard Green & Partners will continue as a minority partner.  The transaction values the company at approximately USD1.05bn. Additional terms of the transaction were not disclosed.

David’s Bridal stores provide an assortment of designer wedding gowns, special occasion dresses and accessories at affordable prices. The company designs, produces and sells a wide selection of styles and sizes through a network of over 300 US and five Canadian stores. David’s Bridal’s exclusive partnership with Vera Wang, under the brand White by Vera Wang, has increased the company’s designer offerings, which include Oleg Cassini, Galina Signature, Galina, David’s Bridal Collection and DB Studio. The company also has exclusive vendor partnerships through which it offers additional wedding-related services.

"David’s Bridal is a unique and well-positioned specialty retailer competing in a large and stable industry," says Richard J. Schnall, a partner at CD&R. "We look forward to working closely with the company to build on its market leadership and scale advantages to grow in new market segments, channels, and geographies."

"The CD&R team has a reputation for operational excellence and we welcome their ownership as we accelerate our growth strategies for the company and continue our commitment to providing the highest levels of style, quality and value to our customers," says Robert D. Huth, president and chief executive of David’s Bridal. "We are also pleased that Leonard Green will continue to be an investor."

CD&R operating partner Paul Pressler, former chief executive of the Gap and former senior Disney executive, will assume the role of chairman at the close of the transaction, expected in the fourth quarter.

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