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Article Excerpt
- Existing investors include Berkshire Partners and Weston Presidio -
BOSTON, Aug. 25 /PRNewswire/ -- Advent International, the global buyout firm, today announced that it has acquired, from existing shareholders in a secondary transaction, a 38% ownership interest in Amscan Holdings Inc., the largest manufacturer, distributor and retailer of party goods and accessories in the United States. Existing investors include Berkshire Partners, Weston Presidio and management. The value of the transaction was not disclosed.
Founded in 1947 and headquartered in Elmsford, N.Y., Amscan operates America's leading party-supply retail network with more than 950 stores, including franchise locations, across the U.S. and Puerto Rico, under the brand names Party City, Party America, Factory Card & Party Outlet, The Paper Factory and Halloween USA. The stores average 10,000 square feet in size and provide customers with a one-stop source for all their party needs at attractive prices.
Gerry Rittenberg, Chief Executive Officer of Amscan, said, "Advent International has a long and successful history of investing in the specialty retail sector. Their...
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