Dentons Advises on the Acquisition of Cardies by Card Factory
Global law firm Dentons assisted Card Factory, the UK’s leading specialist retailer of greeting cards, gifts and celebration essentials, with the acquisition of the entire issued share capital of SA Greetings Corporation (Pty) Ltd and its subsidiaries, which trade as SA Greetings.
SA Greetings is the leading wholesaler of greeting cards and gift packaging in South Africa. It also operates 24 ‘Cardies’ retail stores, with four further stores operated by franchisees, and owns and operates a roll-wrap production facility. Its head office and main warehouse are located in Johannesburg, with sales offices in Durban and Cape Town.
The acquisition was financed from Card Factory’s working capital and is expected to be earnings enhancing.
Dentons advised Card Factory on all the phases of the acquisition (including due diligence, regulatory advice and all of the acquisition contractual package) with a multidisciplinary team led by Partner, Brandon Irsigler, Senior Associate, Noushaad Omarjee and Candidate Attorney, Davin Olen.
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