Ohio-based American Greetings giving up 60 percent ownership

The Westlake company has been family-founded and run since 1906

American Greetings cards rest on a display, Tuesday, June 27, 2006 in Woodmere Village, Ohio.
American Greetings cards rest on a display, Tuesday, June 27, 2006 in Woodmere Village, Ohio.(AP Photo/Tony Dejak)

WESTLAKE, Ohio (WKBN) – Ohio-based American Greetings is giving up 60 percent ownership in the company to a New York investment firm.

Family-founded and run since 1906, the Weiss family will keep control of the other 40 percent, reports WOIO.

There are no immediate plans to move the business away from Westlake, according to WOIO.

It has more than 1,700 employees.

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