Bahrain private equity firm Investcorp has purchased Paper Source Inc. for an undisclosed amount.
Paper Source, headquartered in Chicago, is a retailer that sells gifts, stationary and crafting supplies. The company’s products include invitations, gift wrap, greeting cards and stamps. The company operates 73 stores across 23 states.
Los Angeles private equity firm Brentwood Associates sold the company.
Investcorp also picked up Tyrrells Potato Crisps for about $152 million in August. The firm’s other investments include Sur La Table, GL Education Group and Berlin Packaging. Investcorp also owns SourceMedia, Mergers & Acquisitions’ publisher.
Morgan Joseph TriArtisan LLC acted as financial adviser to Investcorp, while Gibson Dunn & Crutcher LLP provided legal advice.