Card Factory founders to make £350 in buyout

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Husband and wife Dean and Janet Hoyle employ 4,500 in 430 stores after setting up the greetings card chain in 1997. It could be acquired by buy-out firm Charterhouse this week.

The company, which aims to be cheaper than rivals such as Clinton Cards, has weathered recession well with pre-tax profits of £22 million on revenues of £170 million in the year to January 2009.

Charterhouse reportedly fought off competition from other would-be buyers including Permira, Cinven, Summit Partners and Warburg Pincus. Card Factory and Charterhouse declined to comment.