Papyrus Swaps Cash & Assets with American Greetings

Schurman Fine Papers, a Weston Presidio portfolio company doing business as Papyrus, has sold its wholesale division to American Greetings Corp. (NYSE: AM) for approximately $18 million in cash and $2 million in equity (for a 15% stake in Schurman). As part of the deal, Schurman has acquired the retail store operations of American Greetings for approximately $6 million.

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