Party City to expand growth in New England with acquisition of iParty Corp.

Dedham, Mass. -- iParty Corp., a leading party goods retailer with a strong presence in New England, has entered into an agreement to be acquired by Party City Holdings Inc., North America’s largest party supply retailer.

“We are excited to add iParty’s strong platform of retail stores to our vertically integrated business model,” said Gerald C. Rittenberg, Party City’s CEO. “By joining forces, we enhance our leadership position and accelerate our growth throughout New England, a densely populated region where we currently do not have a market presence. We look forward to working together to expand our combined geographic footprint and brand presence on a national scale.”

The transaction is expected to close during the second quarter of 2013.

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