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

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 Alyssa Minsky, Jason Freedman, and Ann Marie Tigani.

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.