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Paper Retail Acquisitions

Paper Source is Likely to Be Sold to Elliot Investment Management

— May 11, 2021 — Business
Paper Source, which recently had to be sold in Chapter 11, announced that it will be acquired by Elliott Investment Management after it was successful in the bidding process.

The deal includes $40 million in cash and also $51.6 million as first-lien debt. Elliott Investment Management had also acquired Barns & Nobel in 2019. Paper Source was initially started by Susan Lindstrom in 1983, where the company was one retail location in Chicago selling handcraft paper in the United States and around the world. The company had a total of 27 locations in 2007 and it was in an expansion phase at the onset of the pandemic.

The Paper Source acquisition will now have to be approved by a federal bankruptcy court.

Image Credit: Shutterstock
Trend Themes
1. Retail Industry Consolidation - As more struggling retailers file for bankruptcy, there will be an increase in mergers and acquisitions as larger companies seek to acquire struggling ones.
2. E-commerce Growth - With the pandemic accelerating the shift towards online shopping, retailers will have to invest in their e-commerce platforms to remain competitive.
3. Sustainability in Paper Manufacturing - With increasing demand for eco-friendly products, paper manufacturers will have to adopt sustainable practices to reduce their environmental impact.
Industry Implications
1. Retail Industry - With more retailers being impacted by COVID-19, retailers will have to adapt to changing consumer habits to survive.
2. Paper Manufacturing Industry - As demand for paper and paper products decreases due to digitization, manufacturers will need to explore new product lines and markets to continue growing.
3. Private Equity Industry - Private equity firms, like Elliott Investment Management, will continue to seek opportunities to acquire struggling companies and turn them around for a profit.
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