Party America Purchases Paper Warehouse

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Alameda, CA-Party America, the 37-unit retailer ofparty supplies, announced they will acquire Paper Warehouse Inc.,the 62-unit paper supply and paper goods stores which operate underthe names Paper Warehouse, Party Universe and www.PartySmart.com,for $7 million. Paper Warehouse had recently filed Chapter 11 underbankruptcy protection, and U.S. Bankruptcy Court has approved thetentative agreement for the corporation to sell its 62 stores, itssubsidiary Paper Warehouse Franchising and the PartySmart.com Website to Party America, making it one of the largest party supplychains with over 135 locations in the United States. -PartyAmerica

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