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Advent Acquires Amscan Stake
The party supplies retail franchise sold 38% of the company to the Boston-based buyout firm.
August 25, 2008
Advent International, a private equity firm headquartered in Boston, acquired a 38% ownership interest in Amscan Holdings Inc. Terms of the transaction were not disclosed.
Amscan, based in Elmsford, NY, owns several party supply retail store franchises, including Party City and Halloween USA. The company is presently owned jointly by Berkshire Partners, Weston Presidio and the Amscan management team.
Steven Collins, a managing director of Advent International, said, “[Amscan] has established an impressive business strategy and has grown significantly since it was acquired by Berkshire Partners, Weston Presidio and management in 2004. We applaud the tremendous achievements that have already been made and are excited to be able to contribute to the company's growth going forward.”
Amscan was founded in 1947 and now operates about 950 stores. In 2007, the company generated $1.7 billion in revenue.
In June, Amscan acquired the a stake in French designer and retailer Gérard Darel.
Goldman Sachs acted as financial advisor to the seller in this transaction.
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