US greeting card and stationer American Greetings’ leveraged buyout by private firm Clayton, Dubilier & Rice (CD&R) will be backed by a roughly $370 million institutional term loan, according to three sources familiar with the matter.

CD&R on Tuesday announced it will acquire a 60 percent stake in the 112-year-old company from the Weiss family, descendants of the founder, which will retain a 40 percent stake. Terms of the transaction were not disclosed.

The company’s brands include American Greetings, Papyrus, Recycled Paper Greetings, Gibson, and Carlton Cards.

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