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 Christopher Parsons
, Alyssa Minsky
, Jason 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.