Party City Buys 18 Franchises

Party City Holdco Inc. (Rockaway Twp., N.J.) has bought a master franchise group that includes 18 stores in Louisiana, Alabama, Mississippi and Florida.

The stores totaled an estimated $34 million in sales last year, reports Chain Store Age, and were bought for between $14.5 million to $15.0 million.

“This acquisition gives the company total ownership of the Louisiana and Alabama markets,” says James M. Harrison, ceo, Party City Holdco, “creating an opportunity to open additional company-owned stores over time and strengthen the brand integrity of these locations, improving the experience for our customers.”

Party City Holdco Inc. currently has 900 specialty stores, 160 of which are franchise stores.