Party City buys Texas-based personalized printing company
Party City Holdco Inc. (NYSE: PRTY), the leading vertically integrated party goods company in North America, announced July 27 that it has acquired a majority interest in Print Appeal, Inc., a leading privately held manufacturer and wholesaler of printed personalized products, based in Dallas.
Under the terms of the agreement, Party City has purchased a 60% interest in Print Appeal valued at $2.8 million, with an agreement to purchase the remaining interest over the next four to five years.
“The acquisition of Print Appeal gives Party City vertical entry into a large and highly fragmented market for personalized products," said Party City CEO Jim Harrison. "With the growing ‘selfie’ trend and aim for individual expression, party goers, party hosts and U.S. consumers, in general, want to look unique with personalized costumes, accessories and tableware. Print Appeal's broad product portfolio is a perfect fit with our business and that trend.”
Co-founded in 2001 by Jon and Nicole Hendricks, Print Appeal sells to the wholesale market only, working with professional dealers, distributors and retailers. The company's hallmarks are fast turnaround times, exceptional customer service and the highest quality printing.
Harrison concluded, “This acquisition supports our North American Consumer Products growth efforts in the area of personalized and promotional products. We welcome Jon and Nicole and the members of Print Appeal to the Party City family.”
More Party City acquisitions:
- Party City stakes claim in online invitation and greeting card business
- Party City buys 18 franchise stores in the Carolinas
- Party City purchases Granmark to increase presence in Latin America
- Party City acquires Australian balloon and party supply wholesaler
- Party City buys 18 more franchise stores in southern U.S.