IL-ELLIOT-ADVISORS
11.5.2021 14:23:08 CEST | Business Wire | Press release
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
GenNx360 Capital Partners Promotes Pratik Rajeevan to Partner17.6.2026 13:00:00 CEST | Press release
GenNx360 Capital Partners (“GenNx360”), a New York City-based private equity firm investing in U.S. lower middle market industrial services and business services companies, is thrilled to announce the promotion of Pratik Rajeevan to Partner. Pratik has significant transaction experience having invested in over ten platform companies and 30 add-on investments during his tenure at GenNx360. His experience includes investments in aerospace and defense, utility and environmental services, and testing and inspection services. Pratik is a key leader in investments in NVI, Shenandoah, and Aeron in the GenNx360 Fund IV portfolio. Pratik led successful investments and exits in Miller Environmental and Aero3 in GenNx360 Fund III. Most recently, Pratik was responsible for the firm’s $2 billion exit from Precision Aviation Group, a global aerospace and defense maintenance and repair business in GenNx360 Fund IV. “Pratik is a disciplined and thoughtful investor with significant execution capabiliti
Vercel Brings New Agent Framework, Full-Stack Capabilities, and Enterprise Controls to Its Agentic Infrastructure Platform17.6.2026 12:13:00 CEST | Press release
As agents become the primary way software is built and deployed, Vercel connects its frontend, backend, and agent tooling into a single platform for shipping and running agents at scale. Today at Ship, its annual conference, Vercel introduced a set of new products that deepen its agentic infrastructure platform trusted by DoorDash, Helly Hansen, OpenAI, Stripe, and The Weather Company. Founder and CEO Guillermo Rauch and other Vercel leaders unveiled the lineup on stage, anchored by three shifts the products address: agents are now the dominant way software gets deployed, every application is becoming agentic, and enterprises need to run agents in production securely and at scale. The transition is well underway. Six months ago, fewer than three percent of deployments to Vercel infrastructure were triggered by coding agents. Agents now account for more than half. Token volume through Vercel's AI Gateway has grown from roughly two trillion to twenty trillion per month over the same peri
NIQ Introduces NIQ Cadence: A Compound AI Operating System for Marketing Effectiveness17.6.2026 12:00:00 CEST | Press release
One system unifies NIQ’s global data, models, and knowledge so marketers move from insight to impact faster, with deeper intelligence, at scale. NIQ (NYSE: NIQ), a global leader in consumer intelligence, today introduced NIQ Cadence, a compound AI operating system built to change how organizations measure marketing performance, optimize budgets, and act on what the data tells them. NIQ Cadence brings data and intelligence into one continuous environment, moving marketers off fragmented reports and onto a single system that empowers decision making. Marketing has never been more complex. Channels keep multiplying, data sits in silos, and the pressure to prove ROI keeps climbing. As a result, most teams still stitch insight and action together by hand, losing time and confidence at every handoff. NIQ Cadence closes that gap with one system where measurement and decision-making finally run together. “Marketing leaders don’t need more reports. They need a better rhythm,” said Jason Tate, G
Winning With AI Requires Organizational Transformation, Not Speed of Adoption, Finds New Arthur D. Little Report17.6.2026 12:00:00 CEST | Press release
To successfully embrace the power of AI, businesses need to remove organizational complexity and eliminate unnecessary work, rather than simply using it for fragmented, incremental improvements. Boards must act now to deliver this. That is the key message from AI-First or Disrupted: Beating the Nightmare Competitor, a new report from Arthur D. Little (ADL) based on concrete examples from leading organizations. Within three to five years, AI-first competitors will make faster decisions, have flatter organizations, and operate at lower costs. They will not just optimize handovers between teams, approvals, and reconciliation work; they will eliminate these complex processes entirely. AI is completely changing the economics of work and value creation, removing the need for coordination across multiple teams, while also enabling adaptive, predictive, and personalized products and services. This delivers both lower operational costs and a fundamentally stronger value proposition. However, mo
WISE Closes Oversubscribed Series D Financing Round of €30 Million, Welcoming ENEA Tech and Biomedical as Strategic New Investor17.6.2026 12:00:00 CEST | Press release
WISE S.p.A., a pioneering medical device company specializing in advanced implantable electrodes for neuromonitoring, neuromodulation, and brain-computer interface (BCI), today announced the successful closing of an oversubscribed Series D financing round totaling €30 million. The round was joined by ENEA Tech and Biomedical, an Italian foundation dedicated to innovation and technology transfer in the biomedical sector, which enters WISE's investor base as a strategic partner. This final closing builds on the first closing of the round completed in June 2024, which included a venture debt facility from the European Investment Bank (EIB) supported by InvestEU, alongside an equity investment from new investor Wallaby S.p.A. — the family office of the Scagliarini family (GVS S.p.A.) — and existing financial partners New Frontier S.r.l., Eureka Venture SGR, and Indaco Ventures SGR. This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20
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