Liberty Media Corp. has entered into a definitive agreement to acquire party supplies and costumes multichannel merchant Celebrate Express for $31 million in cash.
Celebrate Express is an online and catalog retailer operating under the brands Birthday Express, 1st Wishes and Costume Express. Once the deal is completed, it will be combined with BuySeasons Inc., an Internet consume and party retailer that Liberty Media acquired in 2006.
“The Celebrate Express acquisition represents another step in our stated strategy to acquire niche e-commerce businesses whose value we can enhance,” said Michael Zeisser, SVP at Liberty Media, in a statement.
The proposed deal is expected to close in the third quarter
