Advent International Acquires Minority Stake in Amscan Holdings Inc., U.S. Party Goods Market Leader

   - Existing investors include Berkshire Partners and Weston Presidio -



    BOSTON, Aug. 25 /
EMWNews
/ -- Advent International, the global buyout

firm, today announced that it has acquired, from existing shareholders in a

secondary transaction, a 38% ownership interest in Amscan Holdings Inc.,

the largest manufacturer, distributor and retailer of party goods and

accessories in the United States. Existing investors include Berkshire

Partners, Weston Presidio and management. The value of the transaction was

not disclosed.



    Founded in 1947 and headquartered in Elmsford, N.Y., Amscan operates

America's leading party-supply retail network with more than 950 stores,

including franchise locations, across the U.S. and Puerto Rico, under the

brand names Party City, Party America, Factory Card & Party Outlet, The

Paper Factory and Halloween USA. The stores average 10,000 square feet in

size and provide customers with a one-stop source for all their party needs

at attractive prices.



    Gerry Rittenberg, Chief Executive Officer of Amscan, said, "Advent

International has a long and successful history of investing in the

specialty retail sector. Their understanding of the industry and global

resources make them a strong addition to our already outstanding investor

group and will be a great benefit as we continue to build the business

domestically and internationally."



    Amscan offers one of the broadest and deepest product lines in the

industry, including paper and plastic tableware, metallic balloons,

accessories, novelties, gifts and stationery. Products are sold to Amscan's

own stores as well as to other superstores and party goods retailers,

independent card and gift stores, and other retailers and distributors

worldwide. In 2007, Amscan generated pro forma gross revenue of $1.7

billion.



    "Amscan is far and away the leader in both the party goods wholesale

and retail markets," said Steven Collins, a Managing Director of Advent

International in Boston. "The company has established an impressive

business strategy and has grown significantly since it was acquired by

Berkshire Partners, Weston Presidio and management in 2004. We applaud the

tremendous achievements that have already been made and are excited to be

able to contribute to the company's growth going forward."



    Robert Small, a Managing Director at Berkshire Partners and Chairman of

Amscan, said, "We are very excited to continue our successful partnership

with Amscan and to have Advent as an equity investor as Gerry and his team

pursue several new and exciting growth opportunities over the coming

years."



    Kevin Hayes, a Partner at Weston Presidio and a Director of Amscan,

said "Amscan's acquisition strategy has transformed the company into a

vertically integrated leader of the party goods industry. This position

offers Amscan great opportunities for continued growth, and we welcome

Advent's contributions as we pursue these prospects."



    The Amscan transaction reinforces Advent's position as one of the

leading private equity investors in the retail sector globally. The firm

has been investing in the sector for two decades and has funded over 25

retail businesses across a range of subsectors including specialty retail,

value retail, duty-free and food services. Its specialty retail investments

include lululemon athletica, the premier athletic and yoga apparel

specialty retailer; Gerard Darel, a leading French designer and retailer of

mid- to high-end women's ready-to-wear clothing; Dollar Express, a U.S.

single-price retailer acquired by Dollar Tree Stores; Fat Face, the U.K.'s

leading active lifestyle clothing retailer; and Kirkland's, a leading U.S.

specialty retailer of home decor.



    Goldman, Sachs & Co. acted as financial advisor to the selling

shareholders in connection with the transaction.

    About Advent International



    Founded in 1984, Advent International is one of the world's leading

global buyout firms, with offices in 15 countries on four continents. A

driving force in international private equity for more than two decades,

Advent has built an unparalleled global platform of over 120 investment

professionals across Western and Central Europe, North America, Latin

America and Asia. The firm focuses on international buyouts, strategic

restructuring opportunities and growth buyouts in five core sectors,

working actively with management teams to drive revenue and earnings growth

in portfolio companies. Since inception, Advent has raised $24 billion in

private equity capital and completed more than 250 buyout and private

equity transactions valued at over $40 billion in 40 countries. For more

information, visit http://www.adventinternational.com .



    About Berkshire Partners



    Berkshire Partners has invested in mid-sized private companies for more

than 20 years through seven investment funds with aggregate capital

commitments of approximately $6.5 billion. Berkshire seeks companies with

acquisition values between $200 million and $2.0 billion and in a given

transaction makes equity investments of approximately $50 million to $500

million. Berkshire has developed specific industry experience in several

areas, including transportation, energy, manufacturing, business services,

consumer products, retailing and communications. Over the past two decades,

Berkshire has been an investor in 90 operating companies with approximately

$20 billion of acquisition value and combined revenues over $22 billion.

For additional information, please visit http://www.berkshirepartners.com .



    About Weston Presidio



    Weston Presidio provides growth capital to companies with exceptional

management teams across a wide range of industries. Since its founding in

1991, it has managed five investment funds aggregating over $3.3 billion..

The Weston Presidio team has helped identify, build and maximize value in

over 300 leading growth companies. For more information, please visit

http://www.westonpresidio.com .



    Forward-Looking Statements



    Certain statements in this release are forward-looking and made

pursuant to the safe harbor provisions of the Private Securities Litigation

Reform Act of 1995. Forward-looking statements involve known and unknown

risks and uncertainties, which may cause Amscan's actual results in future

periods to differ materially from forecasted results. Those risks and

uncertainties include, among other things, the effect of price and product

competition in the party goods industry in general and in Amscan's specific

market areas, Amscan's ability to anticipate customer demand for products

and to design and develop products that will appeal to customers, Amscan's

ability to open new stores successfully and/or to identify, execute and

integrate acquisitions and to realize synergies, the availability and terms

of capital to fund capital improvements, acquisitions and ongoing

operations, Amscan's ability to manage successfully its franchise program,

Amscan's ability to improve its fundamental business processes and reduce

costs throughout its organization, Amscan's ability to attract and retain

qualified personnel, changes in availability and costs of goods and

services and economic conditions in general. Please see Amscan's filings

with the Securities and Exchange Commission for a more complete discussion

and analysis of these and other risks and uncertainties. You are cautioned

not to place undue reliance on such forward-looking statements, which are

made as of the date of this release, without obligation or intention to

update or revise such forward-looking statements.






    Marissa Wolf

    Financial Dynamics

    (212) 850-5629

    [email protected]