Private equity eyes on Card Factory

It is understood interested parties were sent full details of the assets last week after Dean and Janet Hoyle, the husband and wife team behind the Wakefield-based company, appointed KPMG to advise on a sale. The chain, which has 480 stores, could fetch up to 400m, according to observers.

Potential bidders for the chain include US-based private equity firms Advent International and TPG. It is understood that Card Factory will not be sold to a rival retailer such as Hallmark, which has an operation in Bradford.

Advent International focuses on buyouts of middle market growth companies in Europe, America and Asia in five core sectors including retail, technology, industrial, healthcare and financial services.

In 2002 it acquired Poundland and past investments include the Fat Face clothing brand, music store chain HMV, optician Vision Express and fashion outlet New Look.

TPG Capital invests in a range of industries including retail, media, industrials, technology, travel and leisure, and healthcare.

It owns 25 per cent of Burger King after buying the chain in a consortium with Goldman Sachs and Bain Capita for $1.5bn in 2002. The firm also took Debenhams off the stock exchange for 1.7bn in 2003 but sold its remaining shares for 500m profit last year.