Headlines

A Reason to Celebrate

Party City to be sold for $360 million

Published

19 years ago

September 28, 2005

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Party goods chain, Party City Corp. (Rockaway, N.J.), will be sold to two private equity firms, Berkshire Partners and Weston Presidio, for $360 million.

According to a report in The New York Times, the new owners already own Party City’s largest supplier, Amscan.

The sale, which received unanimous approval by Party City’s board, is expected to close by the end of the year or in early 2006. Party City said it was approached by several potential deals. The company had been struggling after several poor-performing quarters and its ceo Nancy Pedot quit.

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