American Greetings Seeks to Acquire Recycled Paper Greetings
American Greetings is seeking to acquire rival Recycled Paper Greetings Inc. Recycled Paper Greetings filed for bankruptcy as part of the proposed sale. RPG Investment Holdings strongly opposes the actions taken by American Greetings reports Reuters.
RPG Investment Holdings and funds affiliated with private equity firm Monitor Clipper Partners LLC said in a separate statement on Friday that they "strongly oppose the actions taken by American Greetings" prior to the bankruptcy filing.
According to Recycled Paper's website, it is a Monitor Clipper portfolio company.
"Through its unlawful actions, we believe American Greetings is attempting to eliminate Recycled Paper Greetings as a competitor, in an effort to gain more widespread traction in the lucrative market segment in which Recycled Paper Greetings excels," the investors said.
There are other article about investors complaining about the sale here, here and here.
American Greetings is seeking to acquire rival 