AAH acquires more than 3 million shares in offer for Factory Card & Party Outlet

By Lisa Kerner

Charlotte, N.C., Nov. 16 - AAH Holdings Corp. acquired some 92.6% of Factory Card & Party Outlet Corp.'s common stock, according to a news release. AAH's subsequent tender offer for the company ended on Nov. 15.

The 3,182,850 shares were acquired for $16.50 each by AAH subsidiary Amscan Acquisition, Inc.

Amscan Acquisition will merge with and into Factory Card & Party, and the Naperville, Ill., specialty retailer will become a wholly owned subsidiary of Amscan Holdings, Inc.

It was previously reported that AAH Holdings agreed to acquire Factory Card & Party in an all-cash transaction valued at about $72 million including debt.

AAH designs, manufactures and distributes party goods. The Elmsford, N.Y.-based company is owned by Berkshire Partners, Weston Presidio and AAH management.

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