Primary Capital acquires Paperchase

Borders acquired a majority stake in the stationery manufacturer in 2004. Faced with increasing competition from the likes of Amazon, the bookseller recently had to downsize Paperchase, in a third round of layoffs since the beginning of the year. Borders will use $25m of the proceeds to partly pay down the $90 million term loan credit facility it agreed to in April.

Paperchase operates 106 stores in the UK, including concessions in department stores. Its products will still be sold in US Borders stores.

The unquote" team is currently researching this transaction. In-depth deal information for subscribers will follow shortly.

If you have any information regarding this transaction, please contact Grégoire Gille on +44 20 7484 9824 or gregoire.gille@incisivemedia.com

 

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