IL-ELLIOT-ADVISORS
Elliott Investment Management L.P. (“Elliott”) announces today that funds it advises have entered into a definitive agreement to acquire the assets and business operations of Paper Source Inc.
The acquisition of Paper Source by Elliott allows the stationery and gift retailer to emerge from Chapter 11 with the support of a well-capitalized owner committed to the development and growth of the business. Following the Chapter 11 process, Paper Source will benefit from significantly less debt on its balance sheet. It will operate from approximately 130 stores across the US, from Papersource.com, as well as its wholesale division, Waste Not Paper by Paper Source.
Elliott is also the owner of Barnes & Noble, the leading bookseller in the US with bookstores in every state. The businesses are highly complementary, with shared product ranges and a common commitment to excellent customer service. While the businesses will continue to operate independently, considerable opportunities exist for mutually beneficial retail partnerships.
Barnes & Noble has enjoyed a strong performance since its acquisition by Elliott in September 2019, overcoming a number of pandemic-imposed challenges. Elliott now looks forward to the continued progress of both retailers. James Daunt, CEO of Barnes & Noble, will have oversight responsibilities for both companies.
James Daunt, CEO of Barnes & Noble said: “I look forward to working closely with everyone at Paper Source. This is a wonderful brand, with a unique culture and community. With Paper Source’s management team, we will support and accelerate the brand’s strategic growth initiatives. Alongside this, the opportunities for Paper Source to work with Barnes & Noble are tremendously exciting for both businesses.”
Winnie Park, CEO of Paper Source said: “All of us at Paper Source are delighted with Elliott’s investment in the brand and look forward to working with them, and with James and the team at Barnes & Noble. I am so grateful for the community who have supported Paper Source through both the pandemic and the Chapter 11 process – our amazing teams, our incredibly loyal customers, landlords, and our partner and vendor community.”
Paul Best, Portfolio Manager and Head of European Private Equity at Elliott said: “As the country’s leading specialty retailer of stationery, cards and gifts, we see tremendous future potential in Paper Source’s business. We look forward to working closely with the management team to position the brand for continued growth coming out of the pandemic.”
About Paper Source
Founded in 1983, Paper Source is a premier lifestyle brand that offers a curated selection of fine papers, gifts, crafts, party supplies, wrap, greeting cards and an exclusive collection of envelopes and cards. With a mission to inspire people to Do Something Creative Every Day, Paper Source offers a creative aesthetic with a unique color palette and proprietary designs that are hand-illustrated by an in-house art and design team, as well as over 1000 artists and makers around the world. Paper Source is an iconic brand with approximately 130 stores across the U.S., a direct-to-consumer eCommerce business, and a robust wholesale network. For more information, please visit www.papersource.com .
About Barnes & Noble
Barnes & Noble, Inc. is the largest retail bookseller in the United States, and a leading retailer of content, digital media and educational products. The Company has over 600 Barnes & Noble bookstores in 50 states, as well as the Nook Digital business and one of the Web’s premier e-commerce sites, BN.com. General information on Barnes & Noble, Inc. can be found on the Company's website at www.bn.com .
About Elliott
Elliott Investment Management L.P. manages more than $42 billion of assets. Its flagship fund, Elliott Associates, L.P., was founded in 1977, making it one of the oldest funds under continuous management. The Elliott funds' investors include pension plans, sovereign wealth funds, endowments, foundations, funds-of-funds, high net worth individuals and families, and employees of the firm. Elliott Advisors (UK) Limited is an affiliate of Elliott Investment Management L.P.
View source version on businesswire.com: https://www.businesswire.com/news/home/20210511005710/en/
About Business Wire
Subscribe to releases from Business Wire
Subscribe to all the latest releases from Business Wire by registering your e-mail address below. You can unsubscribe at any time.
Latest releases from Business Wire
Options Selects atNorth Data Center for Private AI Solution18.11.2025 13:14:00 CET | Press release
Options Technology (Options), the leading provider of capital markets infrastructure, today announced a partnership with atNorth, the leading Nordic high-density colocation and built-to-suit datacenter provider, to host its expanded private AI solution, at atNorth’s ICE02 data center in Iceland. This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20251118956675/en/ Options Selects atNorth Data Center for Private AI Solution Options infrastructure expansion results from increasing demand from financial firms, such as hedge funds, investment banks, and proprietary trading firms, for high-density computing power, driven by the rapid adoption of AI for trading strategies, risk management, and data analytics. The business aims to address a gap in the market for private cloud infrastructure specifically tailored to the requirements of the financial services industry. Recognizing the need for a secure, sustainable, AI ready and cost-effec
Loyalty Upgraded: Hilton Honors Introduces Faster Path to Elite Status and Reveals New Premium Tier – Diamond Reserve18.11.2025 13:02:00 CET | Press release
Benefits include best-in-industry room upgrades, guaranteed late check-out and exclusive member support Evolution of the award-winning Hilton Honors loyalty program makes earning status even more achievable and more rewarding. New Diamond Reserve tier represents exclusive level of recognition and benefits within Hilton Honors. Diamond status more quickly attainable, and Gold status now the most valuable mid-tier status. Hilton Honors members will continue to enjoy the benefits they value and appreciate the most. Committed to rewarding loyalty at every stage of the travel journey, today Hilton (NYSE: HLT) announced exciting changes to its award-winning Hilton Honors loyalty program. Debuting this January, Hilton will introduce its most elite tier yet – Diamond Reserve – with new elevated benefits, including a Confirmable Upgrade Reward that can be instantly redeemed at the time of booking, guaranteed 4 p.m. late checkout, and exclusive customer service support. This press release featur
NIQ Launches New Brand Traction Score Designed to Reveal How Effectively FMCG Brands Convert Shelf Presence Into Real Consumer Purchases18.11.2025 12:45:00 CET | Press release
Coca-Cola, Philadelphia and Nutella rank highest among the top 15 FMCG brands that have the highest traction score in Western EuropeThe higher the score, the more effectively a brand not only reaches consumers but also converts visibility into salesNIQ also highlights a growing trend across Europe, where rising brand traction scores are closely aligned with the strongest sales growth Coca-Cola has been recognised as the top FMCG brand in Western Europe for its success in driving conversions, according to NielsenIQ (NIQ)’s Brand Traction Score, a new metric that measures how effectively brands convert their shelf presence into actual consumer purchases. This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20251118769598/en/ NIQ Brand Traction Score The NIQ Brand Traction Score combines two of NIQ’s most powerful data sources: insights from its Consumer Panel, which tracks how frequently shoppers buy a brand, and its Retail Measuremen
Barilla Opens Its New Innovation Center to Drive Food Innovation Worldwide18.11.2025 12:37:00 CET | Press release
A reimagined space where research, technology, and collaboration merge with global expertise to advance the future of Barilla’s pasta, sauces, and bakery products How can we bring the excellence of Italian culinary tradition into the future? How can we transform everyday products into experiences that surprise the senses, create emotions, and accompany people in moments of pleasure, sharing, and discovery? The answer for Barilla Group is the Barilla Innovation & Technology Experience (BITE) in Parma, marking the company’s most significant investment in food innovation in recent years. With almost 14,000m², more than €20 million invested and an additional €2 million per year dedicated to equipment upgrades, BITE stands as a global hub designed to foster development across the Group’s portfolio. Pasta, sauces, and bakery become a territory of exploration here, where research and technology serve Barilla's passion for good food. This press release features multimedia. View the full releas
HP Becomes Sisvel Wi-Fi 6 Pool Licensee, Ending Disputes with Wilus, Huawei and Philips18.11.2025 10:58:00 CET | Press release
HP Inc and Sisvel have concluded an agreement for the Palo Alto-based global technology leader to become a licensee of the Sisvel Wi-Fi 6 patent pool. The deal follows a mediation process ordered by Judge Rodney Gilstrap, of the US District Court for the Eastern District of Texas, as part of patent infringement litigation brought against HP by Wilus Institute of Standards and Technology, a licensor in the pool. The agreement not only ends the Wilus suit, but also actions launched against HP by other Sisvel Wi-Fi 6 pool licensors, Huawei and Philips. HP now has one-stop access to approximately 2,000 patents (245 patent families) recognised to date, through the pool’s process of independent patent evaluations, as essential to the 802.11ax Wi-Fi 6 standard. Close to 40 entities license the patents in the Sisvel Wi-Fi 6 patent pool. In addition to HP Inc, these include other recent additions such as Cisco, Netgear and Acer. “We are grateful to HP for the constructive way in which they enga
In our pressroom you can read all our latest releases, find our press contacts, images, documents and other relevant information about us.
Visit our pressroom