Party City Holdco Inc. (NYSE: PRTY), the leading vertically integrated party goods company in North America, today announced that it has acquired a majority interest in Print Appeal, Inc., a leading privately held manufacturer and wholesaler of printed personalized products, based in Dallas.
Under the terms of the agreement, Party City has purchased a 60% interest in Print Appeal valued at $2.8 million, with an agreement to purchase the remaining interest over the next four to five years.
"The acquisition of Print Appeal gives Party City vertical entry into a large and highly fragmented market for personalized products," said Party City CEO Jim Harrison. "With the growing 'selfie' trend and aim for individual expression, party goers, party hosts and U.S. consumers, in general, want to look unique with personalized costumes, accessories and tableware. Print Appeal's broad product portfolio is a perfect fit with our business and that trend."
Co-founded in 2001 by Jon and Nicole Hendricks, Print Appeal sells to the wholesale market only, working with professional dealers, distributors and retailers. The company's hallmarks are fast turnaround times, exceptional customer service and the highest quality printing.
Harrison concluded, "This acquisition supports our North American Consumer Products growth efforts in the area of personalized and promotional products. We welcome Jon and Nicole and the members of Print Appeal to the Party City family."
About Party City
Party City Holdco Inc. is the leading party goods company by revenue in North America and, we believe, the largest vertically integrated supplier of decorated party goods globally by revenue. The Company is a popular one-stop shopping destination for party supplies, balloons, and costumes. In addition to being a great retail brand, the Company is a global, world-class organization that combines state-of-the-art manufacturing and sourcing operations, and sophisticated wholesale operations complemented by a multi-channel retailing strategy and e-commerce retail operations. The Company is the leading player in its category, vertically integrated and unique in its breadth and depth. Party City Holdco designs, manufactures, sources and distributes party goods, including paper and plastic tableware, metallic and latex balloons, Halloween and other costumes, accessories, novelties, gifts and stationery throughout the world. The Company's retail operations include over 900 specialty retail party supply stores (including approximately 150 franchise stores) throughout North Americaoperating under the name Party City and e-commerce websites, principally through the domain name www.PartyCity.com, as well as approximately 250-300 temporary specialty Halloween supply stores operating under the name Halloween City.