Celebrate Express Inc. shareholders have approved the online and catalog party products retailer’s merger with the BuySeasons Inc. subsidiary of Liberty Media Corp. The purchase price was $31 million.
At a special meeting of Celebrate Express shareholders Aug. 28, the proposal to adopt the merger agreement and merger was approved by voters holding approximately 79% of the outstanding shares. Arch Ventures, Thesis Capital and Spencer Management own or control 40% of the outstanding stock of Celebrate. All three had previously approved the transaction.
Liberty Media Corp. announced in June its intent to acquire Celebrate Express and combine it with Liberty’s BuySeasons Inc. brand, which operates BuyCostumes.com, a costume and party accessory e-retailer. Celebrate Express sells family-oriented card and party products under the brands Birthday Express, 1st Wishes and Costume Express.
Liberty Media, which also owns QVC Inc., is No. 11 in the Internet Retailer Top 500 Guide. Celebrate Express is No. 163.
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