David's Bridal Acquisition
NEW YORK - October 11, 2012 - Clayton, Dubilier & Rice announced today that it completed the acquisition of David's Bridal, Inc., the leading specialty retailer of bridal gown and wedding-related apparel and accessories in the United States. The transaction values the company at approximately $1.05 billion. Additional terms of the transaction were not disclosed.
David's Bridal stores provide a broad assortment of designer wedding gowns, special occasion dresses and accessories at affordable prices. David's Bridal designs, produces and sells a wide selection of styles and sizes through a network of over 300 U.S. and 5 Canadian stores. In addition, www.davidsbridal.com is the industry's leading bridal website. An exclusive partnership with Vera Wang, under the brand White by Vera Wang, has successfully increased the company's designer offerings, which include Oleg Cassini, Galina Signature, Galina, David's Bridal Collection and DB Studio. The company has exclusive vendor partnerships through which it offers additional wedding-related services.
CD&R Operating Partner Paul Pressler, former CEO of the GAP and former senior Disney executive, has assumed the role of Chairman, and Robert Huth continues to serve as Chief Executive Officer. Leonard Green & Partners will continue as a minority investor in the company.
About Clayton, Dubilier & Rice
Founded in 1978, Clayton, Dubilier & Rice is a private investment firm with offices in New York and London. Since inception, CD&R has managed the investment of over $18 billion in 53 U.S. and European businesses with an aggregate transaction value of more than $80 billion. To learn more about CD&R, please visit www.cdr-inc.com.
About David's Bridal
With more than 60 years of experience, David's Bridal understands the importance of providing women with a vast selection of exquisitely crafted dresses and accessories, available at affordable prices. Today, David's Bridal dresses one-third of all U.S. brides while it continues to maintain its philosophy of quality, value and service. To learn more about David's Bridal, please visit www.davidsbridal.com.