Paper Source to Be Acquired by Elliott
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.
To view this piece of content from cts.businesswire.com, please give your consent at the top of this page.
View source version on businesswire.com: https://www.businesswire.com/news/home/20210511005710/en/
Contact information
Media Contacts
Paper Source (Chicago)
Noreen Heron
Heron Agency
noreen@heronagency.com
Or
Elizabeth Owens
Paper Source
eowens@papersource.com
Barnes & Noble (New York)
Amelia Mulinder
Barnes & Noble
amulinder@bn.com
Elliott (London)
Sarah Rajani CFA
Elliott Advisors (UK) Limited
T: +44 (0)20 3009 1475
srajani@elliottadvisors.co.uk
About Business Wire
For more than 50 years, Business Wire has been the global leader in press release distribution and regulatory disclosure.
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
INNIO and KMW Secure Grid Stability and Data Center Supply With a Peaking Power Plant7.11.2025 10:00:00 EET | Press release
INNIO Group has signed a contract with KMW (Kraftwerke Mainz-Wiesbaden AG) for a new 54-MW peaking power plant. A total of twelve modular energy systems from INNIO are intended to be operated at the site. Part of the plant’s capacity is expected to be available for the “Green Rocks” data center, which is being built by KMW and Norwegian data center operator Green Mountain. INNIO’s decentralized energy solutions serve as backup in case of a blackout due to grid failure. This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20251107090386/en/ Visualization of the future Green Rocks data center (c) KMW The power plant is scheduled to be commissioned by the end of 2027. “The partnership between INNIO and KMW is a strategic milestone for energy supply in Mainz. It combines efficiency with future viability and is designed to support the operation of our data center even in the event of a blackout,” said KMW board member Oliver Malerius. “W
Suzano Reports Increased Operational Efficiency With Lower Cash Cost in the Third Quarter of 20257.11.2025 00:58:00 EET | Press release
Suzano, the world’s largest pulp producer, announces its results for the third quarter of 2025 (3Q25), reporting sales of 3.6 million tonnes of pulp and paper combined, a 20% increase on the same quarter last year (3Q24). The positive result is driven by the operations of the Ribas do Rio Pardo pulp mill, inaugurated in 2024, and by the integration of paper production from assets acquired in the United States in October 2024. The cash cost of pulp production (excluding downtime) was R$801 per tonne, a 7% reduction compared to 3Q24, another positive highlight of the quarter. The results reflect the continuation of the downward trend in production costs and the ongoing improvement in structural competitiveness. Net revenue for the quarter totalled R$12.2 billion, broadly flat on the comparable period last year. Adjusted EBITDA totalled R$5.2 billion and operating cash generation was positive at R$3.4 billion. The movement is mainly influenced by lower pulp prices and a weaker exchange ra
Vedanta Resources Launches CopperTech Metals to Bolster U.S. Copper Security and Advance Technology and Infrastructure Transformation6.11.2025 18:45:00 EET | Press release
Vedanta Resources Limited ("Vedanta") today announced the launch of CopperTech Metals Inc. ("CopperTech" or the "Company"), a U.S.-domiciled company with a mission to 'Power the Copper Century' and to bolster America's copper security needs while capitalizing on surging copper demand driven by artificial intelligence, data center expansion, grid modernization, defense technologies and industrial onshoring requirements. CopperTech will1 own and operate the Konkola Copper Mines in Zambia, one of the highest-grade copper producing assets in the world with proven cobalt reserves. This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20251106537189/en/ CopperTech intends to build on the existing $3 billion investment made by Vedanta Resources Limited in the Konkola Copper Mines – which included construction of a deep mine shaft, a smelter and a concentrator, and engaging in general mine development – and intends to invest an additional $1
NJ Bio Bridges the Translation Research Gap with the Asset Purchase and Integration of L2P ® Services6.11.2025 18:11:00 EET | Press release
NJ Bio, Inc., a premier contract research and clinical manufacturing service provider in Princeton, New Jersey has announced the asset purchase and full integration of the research services of L2P Research Labs® (“Lab to Pharmacy”), further expanding its service portfolio, and bridging the translational research gap. This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20251106703527/en/ NJ Bio, Inc. now offers translational research services after completing asset purchase and full integration of the services of L2P® Research Labs, enhancing the discovery-to-development pipeline Currently, the attrition rate of biological molecules moving past phase 1 clinical trials is very high and the way to overcome this challenge is through translational research. NJ Bio specializes in preclinical and early-phase clinical research and development, with a primary focus on ADCs, bioconjugation, custom synthesis, oligonucleotides, and mRNAs. Howe
DevvStream Reports Fiscal Year 2025 Results and Advances Digital-Asset and Tokenization Strategy6.11.2025 18:01:00 EET | Press release
DevvStream Corp. (Nasdaq: DEVS) (“DevvStream” or the “Company”), a leading carbon management and environmental-asset monetization firm, today announced financial results for its fiscal year ended July 31, 2025, and provided an update on strategic initiatives designed to enhance liquidity, expand technology capabilities, and position the Company for scalable, acquisition-driven growth. Fiscal 2025 Highlights Completed Nasdaq listing and de-SPAC transaction, establishing DevvStream as one of the few publicly traded pure plays in carbon and renewable-energy asset monetization. Closed initial $10 million tranche under the Helena $300 million convertible-note facility, providing liquidity to launch the Company’s digital-asset treasury. Reported initial revenue as the Company begins monetizing its environmental-asset pipeline. Successfully completed strategic investments and partnerships that expand DevvStream’s reach across carbon, renewable-energy, and environmental-credit markets. Strengt
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