8-K

UNITED STATES
SECURITIES AND EXCHANGE COMMISSION

Washington D.C. 20549

FORM 8-K

CURRENT REPORT

Pursuant to Section 13 or 15(d) of
The Securities Exchange Act of 1934

Date of Report (Date of earliest event reported): July 18, 2005

AAC Group Holding Corp.
American Achievement Corporation

(Exact name of registrants as specified in their charters)

(State or other jurisdiction of incorporation or organization)	(Commission File Number)	(I.R.S. Employer Identification No.)
Delaware	333-121479	20-1854833
Delaware	333-84294	13-4126506

7211 Circle S Road
Austin, Texas 78745

(Address of Principal Executive Offices, Zip Code)

Registrants’ telephone number, including area code (512) 444-0571

Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrants under any of the following provisions:

o Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)

o Soliciting material pursuant to Rule 14a-12 under Exchange Act (17 CFR 240-14a-12)

o Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240-14d-2(b))

o Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))

Item 5.02 Departure of Directors or Principal Officers; Appointment of Directors; Appointment of Principal Officers

On July 18, 2005, Mr. Donald J. Percenti was appointed as Chief Executive Officer of American Achievement Corporation (“AAC”). Mr. Percenti will replace Mr. David Fiore who announced his retirement in April 2005. He begins his service as Chief Executive Officer effective September 1, 2005. Mr. Percenti has most recently served as AAC’s Senior Vice President On Campus and General Manager for Printing since 1996. A press release announcing Mr. Percenti’s appointment is attached hereto as Exhibit 99.1.

Item 9.01 Financial Statements and Exhibits

(c) Exhibits

Exhibit No.	Description
99.1	American Achievement Corporation’s press release dated July 20, 2005.
SIGNATURES

SIGNATURES

Pursuant to the requirements of the Securities Exchange Act of 1934, the registrants have duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.

Date: July 22, 2005	By:	/s/ SHERICE BENCH
		Sherice Bench
		Chief Financial Officer

EX-99.1

EXHIBIT 99.1

Contact:     Alan Oshiki
Roland Tomforde
Broadgate Consultants, Inc.
212-232-2222

For Immediate Release

AMERICAN ACHIEVEMENT CORPORATION APPOINTS DONALD J. PERCENTI AS CHIEF EXECUTIVE OFFICER

Veteran In-House Executive to Continue Growth and Profitability Initiatives

     AUSTIN, TEXAS, July 20, 2005 — AAC, a leading manufacturer and supplier of class rings, yearbooks, graduation products and achievement publications, today announced the appointment of Donald J. Percenti as Chief Executive Officer, effective September 1st. Mr. Percenti has served most recently as AAC’s Senior Vice President On Campus and General Manager for Printing. He began his career at AAC subsidiary Balfour where he served in numerous capacities. Mr. Percenti is a 28-year veteran of AAC and its predecessor businesses.

     “We are excited to announce Don’s promotion,” said Mac LaFollette, Managing Director at Fenway Partners, which acquired AAC in March 2004. “Don’s understanding of the business, his rapport with employees and his leadership style have been key to AAC’s recent accomplishments. He will continue to bring these essential qualities to bear. He has been in this business for almost 30 years and brings continuity in management that will enable AAC to continue the positive trends in its performance.”

     “I am confident in AAC’s bright future,” said Mr. Percenti. “I look forward to working with Fenway, our management team and the company’s employees to ensure a seamless leadership transition and continued momentum toward growth and profitability.”

     During Fenway’s ownership, AAC has focused on consolidating production, implementing lean manufacturing principles and shifting production to lower cost facilities. Fenway has also helped the

company implement upgrades in sales management as well as stimulate new product innovation in AAC’s yearbook business.

About AAC

     AAC is the leading provider of products associated with graduation and important event commemoration, with a legacy based on the delivery of exceptionally well-crafted products, including class rings, yearbooks, graduation products, achievement publications and affinity jewelry through in-school and retail distribution. AAC’s premier brands include: Balfour and ArtCarved, providers of class rings and graduation products; ECI, publisher of Who’s Who Among American High School Students®; Keepsake Fine Jewelry; and Taylor Publishing, publisher of yearbooks. AAC has over 2,000 employees and is majority-owned by Fenway Partners. For further information about AAC and its subsidiaries, visit their Web site at www.cbi-rings.com.

About Fenway Partners

     Fenway Partners, dedicated to building long-term value through direct investment in leading middle-market companies, is a private equity investment firm based in New York and Los Angeles with funds under management of more than $1.4 billion. In partnership with management, Fenway invests in companies with strong market positions and significant opportunities for growth. The firm provides capital funding and strategic guidance to improve the operating and financial performance of its portfolio companies. In addition to AAC, Fenway’s investments have included: Harry Winston, the high-end jewelry retailer; Riddell Bell Holdings, a manufacturer of football, bicycle and action sports helmets; and Simmons, a bedding manufacturer. For further information about Fenway, visit the firm’s Web site at www.fenwaypartners.com.

Statements in this release about the future outlook related to AAC involve known and unknown risks and uncertainties, which may cause AAC’s actual results to differ materially from expected results. While AAC believes its forecasting assumptions are reasonable, there are factors that are hard to predict and influenced by economic and other conditions that are beyond AAC’s control. Other important factors which could cause actual results to differ materially from those in the forward-looking statements are detailed in AAC’s filings with the Securities and Exchange Commission, including its most recent Annual Report on Form 10-K, a copy of which may be obtained from AAC without charge.