David's Bridal Sold to Buyout Firm for $1.05B

David's Bridal will be sold to private equity firm Clayton, Dubilier & Rice in a deal that values the wedding dress retailer at $1.05 billion, the private equity firm announced on Tuesday. David's Bridal, a 300-store chain with a 60-year history, offers moderately priced wedding gowns and accessories, and in recent years has increased its higher-end offerings, including a line designed by Vera Wang.