Owner may float Card Factory

The private equity owner of Card Factory declined to comment on reports that it is shelving plans to sell the 650-store chain founded by Dean Hoyle.

By The Newsroom

Published 5th Sep 2013, 01:01 BST

Private equity firm Charterhouse is now thought to be planning a flotation of the chain after failing to receive a high enough offer for the company.

The Wakefield-based retailer is estimated to be worth more than £500m.

Charterhouse took a majority stake in the firm in April 2010 in a deal worth £350m.

The buyout generated a significant windfall for founder Dean Hoyle, who spent 13 years building up the business with his wife Janet.

Charterhouse hired Goldman Sachs last year to look at the options for the business.

The company has undercut rivals by designing, sourcing and printing its own cards.