In The News

Cross-Practice Team Advises on Deal for Majority Stake in Party City

Practices: Private Equity, Mergers & Acquisitions, Private Investment Funds, Special Situations, Securities & Public Companies

Mergers & acquisitions group co-leader Jane Goldstein led a team advising Advent International Corp., Berkshire Partners, Weston Presidio and Party City on a transaction in which Thomas H. Lee Partners will buy a majority stake in retailer Party City, valuing the company at $2.69 billion. The Ropes & Gray team included tax partner Chris Leich; benefits partner Jonathan Zorn; finance counsel Milap Patel; antitrust counsel Deidre Johnson; and associates Christopher Parsons, Alyssa MinskyJason Freedman, Ann Marie Tigani and Adam Stella.

Party City is a leader in the retail party goods industry, selling party supplies, decorations and costumes, mainly under its namesake brand and the Halloween City, Factory Card & Party Outlet and Party Packagers names. Advent International Corp, Berkshire Partners LLC and Weston Presidio, as well as Party City management will retain minority stakes in the company.
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