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
ILiAD Biotechnologies Announces $115M Oversubscribed Series B Financing to Advance BPZE1 Pertussis Vaccine10.2.2026 14:00:00 CET | Press release
Financing round led by RA Capital ManagementProceeds to support Phase 3 development of BPZE1 with pivotal study to begin in 2026 ILiAD Biotechnologies, Inc. (ILiAD), an advanced clinical stage biotech company focused on the prevention and treatment of disease caused by Bordetella pertussis, today announced the successful closing of an oversubscribed $115 million Series B financing. The financing was led by RA Capital Management with participation from new investors Janus Henderson Investors and BNP Paribas Asset Management Alts, as well as existing investors including a multi-national pharmaceutical company and AI Life Sciences. As part of the financing, Mario Barro, Ph.D., Head of Infectious Diseases at RA Capital Management has joined ILiAD’s Board of Directors. Proceeds from the Series B financing will support the advancement of ILiAD’s next generation pertussis vaccine candidate, BPZE1. Inducing both systemic and mucosal immunity, BPZE1 is a live attenuated intranasal pertussis vac
Armis Launches Armis Centrix™for Application Security to Secure the Code that Runs Organizations10.2.2026 14:00:00 CET | Press release
Solution helps security teams reduce cyber risk exposure, operate more efficiently and streamline their security stack Armis, the cyber exposure management & security company, today announced Armis CentrixTM for Application Security, which unifies application security across an organization’s software development lifecycle. The technology helps security teams secure code as a next-generation attack vector to fortify organizations’ defenses and protect against cyber threats. “To effectively manage risk, it’s essential to get to the root cause of the problem and weed it out,” said Nadir Izrael, CTO and Co-Founder of Armis. “Code-based vulnerabilities are being embedded into organizational infrastructure, and AI-generated code is exacerbating the problem, containing exponentially more vulnerabilities when compared to code written by human developers. As enterprises embrace AI-assisted coding and drive continuous development pipelines, they need a smarter, more dynamic, and unified approac
Sam Elbeck of ExaGrid Honored as a 2026 CRN® Channel Chief10.2.2026 14:00:00 CET | Press release
ExaGrid®, the industry’s only Tiered Backup Storage solution with AI-Powered Retention Time-Lock (RTL) that includes a non-network-facing tier (creating a tiered air gap), delayed deletes and immutability for ransomware recovery,today announced that CRN®—a brand of The Channel Company—has selected Sam Elbeck, ExaGrid’s Vice President of Americas Sales and Channel Partners, for inclusion on the prestigious 2026 CRN® Channel Chiefs list. This annual recognition celebrates IT vendor and distribution executives who are shaping channel strategy and driving innovation and partnership across the industry. “It’s an honor to be named to the Channel Chiefs list again this year,” said Sam Elbeck. “We are committed to the channel and view our partners as an extension of ExaGrid. We collaborate closely on every opportunity to ensure mutual success. Our channel philosophy centers on building long-term relationships grounded in honesty, integrity, and transparency. We strive for ExaGrid to be known a
Vasion Appoints Scott Lee as Chief Product Officer to Accelerate the Impact of Intelligent Print Automation10.2.2026 14:00:00 CET | Press release
Seasoned enterprise product leader brings proven track record of scaling product organizations and driving exponential value Vasion, a leader in serverless printing and Intelligent Print Automation, today announced the appointment of Scott Lee as Chief Product Officer. Lee brings more than 25 years of C-level product and growth leadership experience transforming and scaling enterprise SaaS companies. This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20260210803525/en/ Scott Lee joins Vasion as Chief Product Officer, bringing more than 25 years of enterprise SaaS leadership experience to accelerate the company's intelligent print automation platform and AI-ready capabilities. As Chief Product Officer at Vasion, Lee will lead product management, product design, and product operations. He will focus on expanding strong product foundations and ensuring customer value as the company scales. His extensive experience modernizing complex
Kingswood Capital Management Enters Into a Definitive Agreement to Acquire Coveris’ Paper Unit, Rebrands as Paragon Print and Packaging10.2.2026 13:00:00 CET | Press release
Kingswood Capital Management, LP (together with its affiliates, “Kingswood”) announced today that it has entered into a definitive agreement to acquire Business Unit Paper (“BU Paper”) from Coveris, a global manufacturer of paper and plastic packaging solutions. As part of the transaction, BU Paper will be rebranded Paragon Print and Packaging (“Paragon”), restoring the unit’s original name. Jo Ormrod, Chief Operating Officer, will serve as Paragon’s Chief Executive Officer, and the existing company management will remain in place. The transaction is expected to close in several weeks, subject to customary legal and regulatory requirements. Paragon produces high-quality, sustainable paper-based packaging solutions, including for key end markets such as food, household, and personal care. The company, which was established in 1994, specializes in products like self-adhesive and linerless labels, lined board, cartons, and trays using eco-friendly materials. “We are excited about our next
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