Party America Buys Party Concepts
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Party America, a party-supply chain with 124 stores, bought Party Concepts for $16 million in cash.
The purchase gives Party America 230 company-owned stores and 60 franchises in 48 states, the Alameda, Calif.-based company said.
The closely held company is second in sales to Party City Corp.
Chief Executive Marty Allen said the combined company would have sales of about $230 million.
Party Concepts, based in Appleton, Wis., operates Great Party!, Paper Factory and Paper Outlet stores. The company has more than 1,100 employees nationwide.
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