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Two Private Equity Firms Buy Party City for $360M

ROCKAWAY, NJ-Boston-based private equity firms Berkshire Partners LLC and Weston Presidio acquire the party-supply retailer. According to Party City execs, the company's board of directors unanimously approved the transaction.

By Dana Dubriwny | Updated on September 28, 2005

(For more retail coverage, click GlobeSt.com/RETAIL.)

ROCKAWAY, NJ-Through its holding company, AAH Holdings Corp., Boston-based private equity firms Berkshire Partners LLC and Weston Presidio will shell out $360 million to acquire locally based Party City Corp.

Under the terms of the agreement, Party City shareholders will receive $17.50 per share in cash for each share of common stock. According to Party City, the company’s board of directors unanimously approved the transaction and has recommended to Party City’s stockholders that they approve the transaction.

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