Liberty Media Acquires Party Site Celebrate Express For $31 Million
This story was written by Joseph Weisenthal.
Another e-commerce buy for Liberty Media this time it is buying out small, publicly traded Celebrate Express, a party supply retailer, for $31 million. At $3.90 per share, the deal represents a 69 percent premium over the company's $2.30 closing price. Celebrate Express, which traded in the $20s just a few years ago, operates under such brands as Birthday Express and 1st Wishes. The new company will be attributed to the Liberty Interactive Group, and it will be combined with Liberty's BUYSEASONS business, which operates in the same area. Liberty has made a number of deals for e-commerce companies, including its taking a major stake in BodyBuilding.com and outdoor retailer BackCountry. Release.
By Joseph Weisenthal