PRINT THIS PAGE Berkshire Partners and Weston Presidio to acquire Party City Corporation29/09/2005. Source: AltAssets. 
 Berkshire Partners and Weston Presidio, through their holding company AAH Holdings Corporation, have agreed to acquire US party goods chain Party City Corporation in a public-to-private transaction for $360m. Party City shareholders will receive $17.50 per share.
Party City is a retailer of party supplies with 249 company-owned stores and 250 franchise locations. For the fiscal year ended 2 July 2005, Party City reported revenues of approximately $500m, and total chain-wide net sales of approximately $1bn.
Robert J Small, managing director of Berkshire Partners and chairman of AAH Holdings, said, 'The party retailing industry is a durable and growing business with tremendous potential.
'We have been impressed with Party City and the company's ability to grow and succeed by providing a broad selection of non-seasonal and seasonal party merchandise. We are excited about Party City and its extensive national network of company-owned and franchised stores,' Small added.
Berkshire Partners has developed specific industry experience in several areas including retailing and related services, consumer products, industrial manufacturing, transportation, communications, and business services.
Weston Presidio focuses on sectors including consumer products and retail, manufacturing and industrial, media, service, and technology.
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