PARTY products manufacturer and supplier Amscan International has divested its Irish retail store and created a franchise partnership for its Party Delights retail brand.
The deal with Dublin-based Party HQ is for an undisclosed sum. Amscan, headquartered in Milton Keynes, has co-owned Party HQ with Creative Retail Solutions since the end of 2017. Party HQ has been run day-to-day by the CRS management team which now fully owns the business.
The deal was agreed due to Amscan International’s strategic growth plan focusing on ecommerce retail and wholesale opportunities, while the management of Party HQ has opted to pursue other growth opportunities.
Amscan International chief executive officer Joe Hennigan pictured right said: “The Party HQ team is extremely talented and has an exciting business plan that they wish to pursue. This deal enables the freedom for the team to pursue those goals and for Amscan International simplifies our structure and creates an exciting commercial partnership. We will continue to work closely with the team as commercial partners.”
The deal includes Party HQ opening and managing a Party City store in Dublin, which has been rebranded to Party Delights, and operating temporary Halloween stores under the brand Halloween HQ. Two new Party Delights retail stores have opened within the last month, in Cork and Swords jjst north of Dublin. Party HQ is actively seeking to expand its retail footprint.
Party HQ chief executive officer Vincent Lynch said: “We believe there is great potential in the party category and our differentiated retail proposition in the Irish market. Having the franchise rights to the Party Delights brand in the Irish market and a close commercial partnership with Amscan International will help us accelerate our ambitious plans.”
Amscan International, whose headquarters is at Brinklow, has a turnover of more than £250 million and employs around 2,500 people worldwide, 350 of which are based in the UK. Last January, the company underwent a management buy-out supported by Leeds-headquartered private equity firm Endless.
