The global designer, manufacturer, distributor, wholesales and retailer of party products and supplies, has divested its Irish retail store and created a franchise partnership for its retail brand, Party Delights, in Ireland, to Dublin-based Party HQ for an undisclosed sum.
Amscan has co-owned Party HQ with Creative Retail Solutions (CRS) since the end of 2017. Party HQ has been run day-to-day by the CRS management team, led by entrepreneur Vincent Linch.
The Party HQ opening and management of a Party City store in Dublin, which has been rebranded as Party Delights, and operating temporary Halloween stores under the brand Halloween HQ. Following the deal, Party HQ is now fully owned by CRS, and employs 30 people.
The new deal was agreed due to Amscan’s strategic growth plan, which focuses on ecommerce retail and wholesale opportunities, while the Party HQ management wishes to pursue other growth areas.
Two new Party Delights stores were opened within the last month. One is in Mahon Retail Park, Cork, the other in Swords Pavilions Shopping Centre, and Party HQ is actively seeking to expand its retail footprint.
Joe Hennigan, Amscan International ceo, commented: “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 Vinnie and the team as commercial partners.”
Party HQ CEO, Vincent Lynch, added: “We are delighted to have completed this deal and can now focus on executing our strategic plan.
“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.”
