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iParty Bought by Party City Owner

New Jersey-based Party City buys Dedham-based iParty.

Your local iParty store will be under new management as Party City made a deal to buy the Dedham-based chain for almost $11 million in cash.

In November, iParty announced it hired a financial adviser to look at alternatives for the company stores. 

Party City, based in Rockaway, N.J., is the largest party supply retailer in the United States with 750 stores. With the iParty purchase, it will be adding 54 stores in New England and Florida. 

"Party City is a leading player in our industry, and we could not be more pleased with this outcome of the strategic review we initiated last year and the return it affords to all of our stockholders," iParty Chairman and CEO Sal Perisano said in a statement Friday. 

iParty has stores in Seekonk, South Attleboro and Walpole.

For more on the story, go to bostonherald.com.

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