Elmsford, NY (December 22, 2009) - Amscan Holdings, Inc. today announced a strategic alliance with American Greetings Corporation (American Greetings), the Cleveland-based manufacturer and retailer of innovative social expression products.
As part of the alliance, Amscan acquired inventory, equipment and processes used by American Greetings in the manufacture and distribution of party goods. Amscan will have exclusive rights to manufacture and distribute products into various channels, including the party store channel. American Greetings will now source party goods from Amscan and will continue to distribute party goods to various channels, including to its mass, drug, grocery and specialty retail customers.
July 7, 2008 - Amscan Holdings Inc. (AHI), has announced the sale of both Party City and both Party America stores in the Salt Lake City market to Zurchers Merchandise Co.
Zurchers currently operates seven retail party stores under the names of Zurchers in the markets of Salt Lake City, as well as Boise and Twin Falls, Idaho. The Party City and Party America stores being acquired by Zurchers will be renamed under the Zurchers trade name and result in their independent ownership of eleven retail party stores in the states of Utah and Idaho.
Elmsford, NY (June 4, 2007) - AAH Holdings Corporation (“AAH”) announced today that it has completed the acquisition of Gags & Games Inc. (“Gags & Games”), a leading retailer of Halloween and party goods. Gags & Games operates a chain of approximately 20 party superstores in Michigan and Ohio under the trade name Party USA. In addition, Gags & Games has operated a chain of temporary Halloween stores throughout the Midwest for over 25 years, the last 15 years under the trade name Halloween USA.
Elmsford, NY (May 8, 2007) - Amscan Holdings Inc., (“AHI”) today reported that it’s wholly owned subsidiary Amscan Inc. (“Amscan”), has entered into a five-year Supply Agreement (the “Supply Agreement”) with M.G. Novelty Company, Inc. (“M.G. Novelty”) which presently operates five (5) retail party stores under the name Party Galaxy in the Oklahoma City, OK trade market. The Supply Agreement gives M.G. Novelty the right to receive more favorable pricing and trade terms over the term of the agreement than what is generally available to it under its current terms with Amscan. In exchange, the Supply Agreement obligates M.G. Novelty to purchase increased levels of merchandise from Amscan until 2012. The Supply Agreement provides for a ramp-up period during 2007 and 2008 and, beginning with 2009, requires M.G. Novelty to achieve merchandise purchases from Amscan equal to $1,500,000, on an annual basis.
Elmsford, NY (March 1, 2007) - Amscan Holdings Inc., ("AHI") today reported that it's wholly owned subsidiary, Amscan Inc. ("Amscan"), has extended its Supply Agreement with Erwin Distributing Co., Inc. ("Erwin"), a party goods distributor and retailer that operates 29 Card & Party Factory Stores in Texas, for five more years. The Supply Agreement gives Erwin the right to receive favorable pricing and trade terms, subject to Erwin's achievement of specified levels of purchases and other factors. In exchange, the Supply Agreement obligates Erwin to purchase increased levels of merchandise from Amscan through 2012.
Elmsford, NY (January 1, 2007) – Amscan Holdings, Inc. has unveiled Grasslands Road ™ as the new name of its specialty gift division, marking the significant growth that the gift division has undergone in its seven-year history. Accompanying the name change is the release of a new tagline, Gifts that Inspire ™, which reflects the company's strategic vision of creating versatile, market-focused gift products.
"The Grasslands Road brand is an important strategic move as we continue to develop the specialty gift division and enjoy significant growth. Our focus will remain on providing our valued retail partners with industry-leading, on-trend gift products that deliver strong margins and exceptional retail performance. Our new tagline, ‘Gifts That Inspire,’ represents our mission and on-going commitment to creating an innovative product portfolio that makes each of our retail partners a destination in the marketplace," said Craig Leaf, vice-president – marketing, product development.
Boston, MA /PRNewswire/ (September 29, 2006) - Berkshire Partners LLC and Weston Presidio, through their holding company AAH Holdings Corporation, announced today the acquisition of PA Acquisition Corp., doing business as Party America ("Party America") from a division of Gordon Brothers Group, LLC.
In connection with the acquisition, the outstanding common stock and subordinated debt of Party America were converted into shares of AAH Holdings Corporation common stock valued at $29.6 million. AAH Holdings also paid transaction costs of $0.6 million and repaid $12.3 million of Party America senior debt upon closing.
Boston, MA and Rockaway, NJ (December 23, 2005) - Berkshire Partners LLC and Weston Presidio, through their holding company AAH Holdings Corporation, announced today the completed acquisition of Party City Corporation (the "Company") (NASDAQ: PCTY) by a subsidiary of AAH Holdings. The Company's common stock will cease to trade on the Nasdaq national market at market close today and will be delisted.
Under the terms of the merger agreement entered into on September 26, 2005, Party City shareholders are entitled to receive $17.50 per share in cash for each share of common stock outstanding, without interest, for total consideration of approximately $364 million, which includes the payment for employee stock options less their exercise price. Shareholders of Party City owning approximately 84% of its common stock voted at a special meeting held on December 7, 2005 in support of the transaction.