Party City Announces Senior Leadership Appointments

ELMSFORD, N.Y.–(BUSINESS WIRE)–Party City Holdco Inc. (“PCHI” or the “Company”) (NYSE:PRTY), announced
today the appointment of Mr. Daniel J. Sullivan as CFO to succeed Mr.
Michael A. Correale. The announcement coincides with Mr. Correale’s
decision to step down as its global CFO to focus on the newly created
position of EVP Chief Accounting Officer and Treasurer effective August
29, 2016. In this new role, Mr. Correale will be responsible for all of
the Company’s external financial reporting, treasury functions, banking
and credit relationships and devote substantial efforts towards assuring
that the Company’s systems and processes of internal and financial
controls are best in class and in line with the requirements of

As the Company’s global CFO, Mr. Sullivan will oversee all aspects of
Finance as well as Financial Planning & Analysis, Business Development
and Investor Relations. Prior to joining PCHI, Mr. Sullivan held several
senior finance positions with Ahold USA including, most recently,
EVP-Finance and CFO and was a member of their Executive Board. Prior to
joining Ahold in 2010, Mr. Sullivan spent twelve years at Heineken in
executive finance positions both in the United States and Europe, and
served as CFO, COO & SVP Strategy for Heineken USA. Earlier in his
career in the late 1990s, Mr. Sullivan was a controller for Amscan Inc.,
the US wholesale division of PCHI, and prior to that he was with KPMG.

Commenting on these organizational changes, Mr. James M. Harrison, CEO,
stated, “Firstly, I would like to thank Mike for all of his many
contributions over the past 18 years. Mike has been and will continue to
be an integral part of our leadership team. His dedication and financial
expertise has been a critical component of our success and I am
extremely pleased that he will continue to play a very important role in
our Company as we move forward.”

“I am also delighted to welcome Dan back to our business which has
certainly changed quite a bit since he was last a member of our team.
The tremendous experience that Dan has gained in both retail and
wholesale make him an ideal candidate for this position. I am confident
that with Dan’s knowledge of retail and wholesale operations, coupled
with his proven track record, he will be a tremendous addition to our
team as we build out our corporate organization and sustain our history
of profitable growth and success.”

About Party City

Party City Holdco Inc. (the “Company” or “Party City Holdco”) is the
leading party goods company by revenue in North America and, we believe,
the largest vertically integrated supplier of decorated party goods
globally by revenue. The Company is a popular one-stop shopping
destination for party supplies, balloons, and costumes. In addition to
being a great retail brand, the Company is a global, world-class
organization that combines state-of-the-art manufacturing and sourcing
operations, and sophisticated wholesale operations complemented by a
multi-channel retailing strategy and e-commerce retail operations. The
Company is the leading player in its category, vertically integrated and
unique in its breadth and depth. Party City Holdco designs,
manufactures, sources and distributes party goods, including paper and
plastic tableware, metallic and latex balloons, Halloween and other
costumes, accessories, novelties, gifts and stationery throughout the
world. The Company’s retail operations include over 900 specialty retail
party supply stores (including approximately 180 franchise stores)
throughout North America operating under the names Party City and
Halloween City, and e-commerce websites, principally through the domain


Party City Holdco Inc.
Deborah Belevan, 914-784-8324
VP of
Investor Relations