David's Bridal bought for $1.05B
Private equity firm Leonard Green & Partners, which bought David's Bridal in 2006, will remain a minority partner in the company in the new $1.03 billion deal with private equity firm Clayton, Dubilier & Rice. Credit: Handout
Private equity firm Clayton, Dubilier & Rice says is buying David's Bridal Inc. in a deal that values the private company at about $1.05 billion.
Additional financial terms were not disclosed.
Private equity firm Leonard Green & Partners, which bought the retailer in 2006, will remain a minority partner in the company.
David's Bridal produces and sells a variety of bridal and special occasion apparel and accessories through a network of over 300 stores in North America.
Paul Pressler, a Clayton, Dubilier & Rice operating partner and a former Gap Inc. chief executive, will become the company's chairman. The deal is expected to close in the fourth quarter.
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