Party City Holdco Inc. (PCHI) has entered into a stalking horse agreement to sell its intellectual property and related wholesale operating assets to New Amscan PC, LLC, an affiliate of Ad Populum, LLC, as part of its Chapter 11 proceedings. This pivotal agreement, announced on January 24, 2025, is set to preserve the legacy of the Party City and Amscan brands in the multibillion-dollar party supply industry.
The sale is scheduled for an auction on February 6, 2025, with a bid deadline of February 4, 2025, for higher offers, pending Bankruptcy Court approval.
Party City has been a household name for over four decades, offering a wide range of party supplies including balloons, costumes, and decorations to customers through both retail and wholesale channels. Amscan, its wholesale division, is a leading global supplier of party goods to retailers, solidifying Party City’s position as a key player in the celebration market across North America.
Ad Populum, a leader in pop culture merchandise and the costume industry, has a track record of successful global distribution and product development. With its expertise, the company aims to drive growth and innovation for Party City and Amscan.
Dan Lamadrid, CFO of Party City, shared, “This transaction marks an exciting step towards securing a promising future for Party City, maximizing value for stakeholders.”
Joel Weinshanker, CEO of Ad Populum, said, “We look forward to combining our strengths with Party City’s legacy to innovate and lead the party supply market forward, elevating celebrations around the world.”
David Peress, Executive Vice President of Hilco Streambank, added, “This agreement ensures the continued success of the Party City and Amscan brands while establishing a solid foundation for the ongoing intellectual property sale process.”
Robert Himmel, Senior Managing Director at Gordon Brothers, noted, “This transaction positions Ad Populum to reimagine the Amscan platform and achieve long-term success in the party supply industry.”
The transaction is supported by legal counsel Paul, Weiss, Rifkind, Wharton & Garrison LLP, Porter Hedges LLP, restructuring advisor AlixPartners LLP, and intellectual property advisors Hilco Streambank and Gordon Brothers Brands.
Party City is a leading provider of party supplies in North America, offering a wide array of products, including tableware, balloons, costumes, and novelties. Founded in 1986, Party City has become synonymous with celebrations, serving millions of customers worldwide.
Ad Populum is a global leader in pop culture merchandise, with a portfolio including brands such as NECA, Kidrobot, and Rubies. The company specializes in retail distribution, product development, and manufacturing, producing high-quality goods for fans of all ages.
Hilco Streambank is an advisory firm specializing in intellectual property disposition and valuation, completing transactions across various industries, including consumer brands and telecom.
Founded in 1903, Gordon Brothers provides asset optimization solutions globally, specializing in retail, industrial, and commercial sectors.
For more information on participating in the auction or other inquiries, interested parties can contact Hilco Streambank or Gordon Brothers Brands.
Amazon secured a key early win as a federal judge blocked New York from enforcing…
The Enthuse Foundation has revealed the finalists for its 7th Annual Women Founders Pitch Competition,…
The Marcus Evans 2nd Edition Model Risk Management, Canada conference taking place in Toronto, Canada…
Economists say Shanghai is strengthening its role as China’s reform engine, accelerating innovation and global…
U.S. shoppers are set to spend nearly $80 billion this Black Friday and Cyber Monday,…
Waiken has unveiled a US$450 million investment plan through 2031 to strengthen its entertainment and…