Liberty to Acquire Celebrate for $31 Million

Liberty Media Corp. will acquire Celebrate, a direct marketer of party supplies and costumes through Birthday Express, 1st Wishes and Costume Express, for $31 million.

This deal is expected to close in the third quarter.

In connection with this transaction, Arch Ventures, Thesis Capital and Spencer Management—which collectively own or control 40% of Celebrate’s stock—have agreed to vote in favor of the transaction and against any alternative proposal, according to Liberty.

Liberty said it will combine these businesses into its Buyseasons unit which offers party supplies online.

"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, senior vice president of Liberty, in a statement.