[
]
2005–present: Acquisitions and developments
In 2005, the company was sold to a subsidiary of AAH Holdings Corporation, owner of Amscan, a designer, manufacturer and distributor of party goods in America. Amscan then went on to acquire the party retailers Party America in 2006 and Factory Card & Party Outlet in 2007. Both retail chains began to operate under the Party City network, thereby making Party City the largest party supplies retailer in the United States.
With Amscan's 2011 acquisition of American Greetings' Designware party division, Party City added licensing agreements with Nickelodeon, Sesame Workshop, and Hasbro. In 2011, Amscan became a licensee for MLB, NBA, NFL, NHL and NCAA party products and balloons, and Party City carries all teams in their respective markets and offers the entire assortment in larger stores and online.
In 2011, Party City expanded outside the United States with the acquisition of the Canadian retailer Party Packagers, making Party City the largest party goods retailer in North America. In 2012, these stores began to re-brand as Party City. In 2013, Party City bought iParty
Party City Holdco Inc. is an American publicly traded retail chain of party stores founded in 1986 by Steve Mandell in East Hanover, New Jersey. Party City’s parent organization is Party City Holdings Inc. Based in Woodcliff Lake, NJ, the compa ...
. In December 2017, Party City acquired MG Novelty Corporation for around $5.5 million, which operated seven retail stores under the name Party Galaxy in the Oklahoma City metropolitan area
The Oklahoma City metropolitan area is an urban region in the Southern United States. It is the largest metropolitan area in the state of Oklahoma and contains the state capital and principal city, Oklahoma City. It is often known as the Okla ...
. In 2017, Party City purchased its franchised locations in the Carolinas.
Advent International, Berkshire Partners LLC and Weston Presidio in 2012 sold Thomas H. Lee Partners a majority stake in Party City. In 2015, Party City Holdco Inc went public with Thomas H. Lee Partners retaining 55% and Advent International owned 19 percent. In April 2017, the company was approached by a private equity firm to acquire the company. In response the company placed itself on the market.[
In June 2018, Party City announced that it would open around 50 Toy City pop-up stores beginning in September 2018, alongside its Halloween City stores. The stores operated through the conclusion of the ]holiday season
The Christmas season or the festive season (also known in some countries as the holiday season or the holidays) is an annually recurring period recognized in many Western and other countries that is generally considered to run from late November ...
, and was meant to capitalize upon the closure of the U.S. locations of Toys "R" Us
Toys "R" Us is an American toy, clothing, and baby product retailer owned by Tru Kids (doing business as Tru Kids Brands) and various others. The company was founded in 1957; its first store was built in April 1948, with its headquarters loc ...
. Some of its locations utilized vacancies created by the Toys "R" Us shutdown.
In May 2019, it was announced that the chain would be closing 45 locations "to help optimize our market-level performance, focus on the most profitable locations, and improve the overall health of our store portfolio".
Party City's Canadian operations were acquired by Canadian Tire
Canadian Tire Corporation, Limited is a Canadian retail company which operates in the automotive, hardware, sports, leisure and housewares sectors. Its Canadian operations include: Canadian Tire (including Canadian Tire Petroleum gas stations a ...
in August 2019 for $174.4 million CAD
Computer-aided design (CAD) is the use of computers (or ) to aid in the creation, modification, analysis, or optimization of a design. This software is used to increase the productivity of the designer, improve the quality of design, improve co ...
.
Party City’s parent organization is Party City Holdings Inc.
References
External links
*
{{Authority control
Party stores of the United States
American companies established in 1986
Retail companies established in 1986
2015 initial public offerings
Rockaway, New Jersey
Companies based in Morris County, New Jersey
Companies listed on the New York Stock Exchange
1986 establishments in New Jersey