Aug 8 (Reuters) - Party City Holdco Inc PRTY.N :
* PARTY CITY ANNOUNCES SALE OF CANADIAN SUBSIDIARY RETAIL BUSINESS AND ASSETS TO CANADIAN TIRE AND AGREES TO A RELATED LONG-TERM WHOLESALE SUPPLY AGREEMENT
* PARTY CITY HOLDCO INC - ALL-CASH TRANSACTION VALUED AT APPROXIMATELY CAD$174 MILLION
* PARTY CITY HOLDCO INC - DEFINITIVE AGREEMENT WITH CANADIAN TIRE CORPORATION, LIMITED
* PARTY CITY HOLDCO INC - CANADIAN TIRE WILL ACQUIRE RETAIL BUSINESS AND ASSETS OF PARTY CITY'S CANADIAN SUBSIDIARY
* PARTY CITY HOLDCO INC - CANADIAN TIRE WILL ACQUIRE 65 RETAIL STORE LOCATIONS IN CANADA
* PARTY CITY HOLDCO INC - PARTY CITY AND CANADIAN TIRE HAVE ALSO AGREED TO A LONG-TERM WHOLESALE SUPPLY AGREEMENT, WITH AN INITIAL TERM OF 10 YEARS
* PARTY CITY HOLDCO INC - PARTY CITY'S WHOLESALE BUSINESS, AMSCAN INC WILL PROVIDE CANADIAN TIRE WITH CONSUMER PRODUCTS
* PARTY CITY HOLDCO INC - PROCEEDS FROM SALE WILL BE USED TO PAY DOWN DEBT