Party City acquires 18 locations

Party City Holdco Inc. continues to acquire its franchised locations.



The company has entered into an agreement to acquire a master franchise group representing 18 franchise stores in Louisiana, Alabama, Mississippi and Florida, and with estimated 2016 sales of approximately $34 million. The purchase price is estimated to be $14.5 million to $15.0 million.



“Acquiring franchise stores over time is an integral component of our strategy to invest in growth opportunities at attractive multiples of earnings,” said James M. Harrison, CEO, Party City Holdco. “This acquisition gives the Company total ownership of the Louisiana and Alabama markets, 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. designs, manufactures, sources and distributes party goods. The company’s retail operations include over 900 specialty retail party supply stores (including approximately 160 franchise stores) throughout North America operating under the names Party City and Halloween City, and e-commerce websites.