Sydney Party Decorations to acquire The Party People
Dean Salakas is selling The Party People to Sydney Party Decorations, the same entity that bought The Party People’s Mega Party Warehouse store in Campbelltown earlier this year, for an undisclosed price.
As part of the agreement, Salakas will step down from The Party People effective December 17, after 17 years in the role.
“It’s a mixture of emotions but I am so grateful for my journey having worked with some great people and partners along the way,” Salakas wrote on LinkedIn.
Despite going through a broker, Salakas found himself generating better leads for a buyer, receiving about 30 direct messages after he posted about the sale on LinkedIn.
Salakas had to narrow down his choices and ended up agreeing on a transaction with Sydney Party Decorations.
“It was the best offer on that table and we’ve taken the best offer. We did have a couple of investment offers but this one beat that,” he said.
Founded by his mother, Mala Salakas, in 1985, Dean launched The Party People online in 1997.
“I was fortunate enough to be Australia’s first retailer to offer click and collect, advertise on Google, advertise on Bing, offer multi-store scan and go technology and developed a world first augmented reality mirror with checkout among other fun adventures,” he said.
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