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
Syngenta Signs MoU to Be Strategic Partner in India’s First Open-Data Agricultural Ecosystem Annam.AI15.6.2026 09:35:00 CEST | Press release
Agricultural innovation leader to contribute with agronomic expertise in building accurate crop health, pest forecasting and heat stress models India’s agriculture sector is a global powerhouse, uniquely characterized by its massive scale, vast arable land, diverse agro-climatic zones and rich biodiversity. These strengths have propelled the country to become one of the world’s leading producers of crops such as rice and wheat. However, farmers in the country face significant challenges – from erratic monsoons, severe droughts and unseasonal rains compounded by El Nino, to pests and diseases that destroy an estimated 30 percent of crops annually. More than 80 percent of India’s estimated 150 million farming households are composed of smallholder farmers who operate on less than two hectares of land. This limits economies of scale, sets obstacles to the wider adoption of advanced technologies and could widen a systemic gap between large commercial agricultural operations and the bulk of
Pelago Bioscience Acquires RG Discovery, Forming an Integrated Drug Discovery Partner Spanning Biology and Chemistry15.6.2026 09:00:00 CEST | Press release
The combination unites Pelago Bioscience’s industry-leading and proprietary cellular target engagement capabilities with RG Discovery’s deep medicinal chemistry and custom synthesis expertise - enabling customers to advance drug discovery programs across the full design-make-test-analyze-(DMTA) cycle with a single specialist partner. Pelago Bioscience, a specialist drug discovery focused contract research organization (CRO), known for its industry-leading cell-based target engagement assays, is pleased to announce the acquisition of RG Discovery, and thereby adding deep expertise in medicinal chemistry, custom synthesis, and integrated drug discovery. This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20260615340933/en/ Michael Dabrowski, Chief Executive Officer of Pelago Bioscience By combining Pelago Bioscience's biology-focused capabilities with RG Discovery's chemistry expertise, the enlarged platform will enable drug discover
LTM Launches BlueVerse™ for iRun to Outcreate Managed Services in the Agentic AI Era15.6.2026 08:10:00 CEST | Press release
AI-native operations model enables enterprises to move from reactive service delivery to intelligent, outcome-driven managed services LTM, the Business Creativity partner to the world’s largest enterprises, today announced the launch of BlueVerse™ for iRun, an AI-native managed services model designed to transform traditional IT operations into a resilient, intelligent, and outcome-driven operating model. As enterprise environments grow more complex—spanning hybrid cloud, SaaS, and AI-driven ecosystems—traditional managed services models are increasingly constrained by siloed teams, static processes, and effort-led scaling. BlueVerse for iRun addresses this shift by moving beyond headcount-based delivery to a platform-led approach powered by agentic AI, knowledge convergence, and process-as-code. Built on the BlueVerse ecosystem, iRun creates a unified intelligence layer that brings together enterprise data, telemetry, workflows, and operational context—enabling AI to reason across sys
Azafaros to Present at BIO International Convention 202615.6.2026 07:00:00 CEST | Press release
Azafaros, a private company building a portfolio to become a leader in lysosomal storage disorders (LSDs), focused on addressing neurological symptoms, today announced that it will present at the 2026 BIO International Convention taking place in San Diego, USA, from June 22-25. The company’s presentation is scheduled for Monday, June 22 at 4:30 PM in Theater 4. The presentation will highlight Azafaros’ progress in developing nizubaglustat, its lead investigational compound for the treatment of rare lysosomal storage disorders with neurological involvement, including GM1 and GM2 gangliosidoses (GM1/GM2) and Niemann-Pick type C disease (NPC). Nizubaglustat is currently in two Phase 3 registrational studies (NAVIGATE) treating patients with GM1/GM2 and NPC and expects to report topline data from the studies in 2028. “BIO provides an important opportunity to update our progress as we continue advancing nizubaglustat through late-stage clinical development,” said Stefano Portolano, CEO at A
Teledyne FLIR Defense Launches Black Recon™ Autonomous Micro-Drone15.6.2026 06:05:00 CEST | Press release
Autonomous launch, recovery, and recharge from military vehicles and fixed installations; Three-drone rotation provides persistent surveillance and real-time targeting data in contested environments Teledyne FLIR Defense, part of Teledyne Technologies Incorporated (NYSE: TDY), today announced at Eurosatory the market launch of Black Recon™, an autonomously launched micro-drone system that delivers continuous, untethered reconnaissance from military vehicles and fixed installations. This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20260614388428/en/ Teledyne FLIR Defense announced at Eurosatory the market launch of Black Recon™, an autonomously launched micro-drone that delivers continuous, untethered reconnaissance from military vehicles and fixed installations. Black Recon allows crews to launch, operate, recover, and recharge up to three UAS without leaving their platform, reducing operator risk. Designed for vehicle integrati
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