US book chain Borders is selling its UK stationery division Paperchase Products Ltd. to private equity firm Primary Capital in a management buyout deal for £20 million.
Paperchase has 65 owned stores in high street, shopping centre and railway locations selling stationery and greeting cards, as well as 35 concession units in retailers including House of Fraser, Selfridges, Harrods and more recently Waterstones.
The Company also operates concessions in Ireland and the Netherlands and arranges the supply of Paperchase designed products to Borders in the US, as well as to partners in the Middle East."