Carlyle Group buys packaging company Chesapeake Ltd.

Published: July 8, 2013 12:48 pm ET
Updated: July 8, 2013 3:06 pm ET

Related to this story

Topics Packaging, Mergers & Acquisitions, Blow Molding

Packaging manufacturer Chesapeake Ltd. has been purchased by Washington-based private equity firm Carlyle Group.

Chesapeake, headquartered in Nottingham, England, specializes in value-added paper packaging products and systems for the pharmaceutical, confectionary and premium drinks market.

The company has plastics operations as well. Its specialty chemical packaging division makes blow molded bottles, containers and preforms from PET and both conventional and fluorinated high density polyethylene.

The purchase will enable Chesapeake to continue growing and developing its business, as well as to allow the company to “to respond effectively to new business opportunities as we look to further align our business with our customers’ global requirements,” said Mike Cheetham, CEO of Chesapeake, in a news release.

Carlyle plans to further develop Chesapeake’s international footprint and “invest in delivering industry leading products and services,” according to the release.

Chesapeake had sales of 580 million euros ($746 million) in 2012.

Chesapeake has 37 plants across nine countries, including 5 facilities in the United States. The company has about 5,000 employees.

Chesapeake was purchased by private equity firm Irving Place Capital and funds managed by Oaktree Capital Management in May 2009. The sale moved Chesapeake from a publicly traded company based in the United States to a private, independent company headquartered in Europe.

During that time, Chesapeake made investments to expand capacity and enhance manufacturing, and completed three add-on acquisitions, according to a news release from Irving Place.

Carlyle funded its purchased through Carlyle Europe Partners III LP, a 5.3 billion euro fund that makes mid- and large-cap investments. Terms were not disclosed.

 


Comments

Carlyle Group buys packaging company Chesapeake Ltd.

Published: July 8, 2013 12:48 pm ET
Updated: July 8, 2013 3:06 pm ET

Post Your Comments


Back to story


More stories

Image

French investment firm buys Alabama-based CSP Technologies

January 30, 2015 1:10 pm ET

A French investment firm has finalized a deal to buy CSP Technologies Inc., an Auburn, Ala., company that makes specialty plastics packaging.    More

Image

Lubrizol buys Brazil-based coatings technology manufacturer

January 30, 2015 11:50 am ET

Specialty chemicals company Lubrizol Corp. of Wickliffe, Ohio, said it has acquired a Brazilian company that makes coatings technology for products...    More

Image

Report: Brands are falling short on packaging sustainability

January 29, 2015 5:19 pm ET

Packaging in general, and plastic packaging in particular, has a long way to go in terms of recycling, according to a pair of environmental groups.    More

Image

Lund adds to aftermarket auto products portfolio with buy of Bushwacker

January 29, 2015 2:49 pm ET

Lund International Inc. has expanded its portfolio of plastic aftermarket vehicle accessories by acquiring Bushwacker Inc.    More

Image

Profit dips at Bemis Co. Inc.

January 29, 2015 2:04 pm ET

Profit dipped for Bemis Co. Inc. for all of 2014, but were up during the fourth quarter in what the company's leader called a “pivotal year.R...    More

Market Reports

Plastics in Automotive: Innovation & Emerging Trends

This special report newly released by PN and sponsored by The Conair Group examines current trends in the use of plastics in automotive, materials innovations and the changing landscape. It includes a review of legislative/regulatory activity impacting vehicle development and lightweighting, market opportunities & challenges for mold and toolmakers, innovative design strategies being implemented by major OEMs and suppliers, as well as a review of key indicators in Canada, Mexico, Brazil and China.

Learn more

Plastics Recycling Trends in North America

This report is a review and analysis of the North American Plastics Recycling Industry, including key trends and statistics based on 2013 performance. We examine market environment factors, regulatory issues, industry challenges, key drivers and emerging trends in post-consumer and post-industrial recycling.

Learn more

Injection Molding Market Analysis & Processor Rankings

Plastics News BUNDLED package contains our in-depth Market Analysis of the Injection Molding segment. You will gain keen insight on current trends and our economic outlook.

As a BONUS this includes PN's updated 2014 database of North American Injection Molders RANKED by sales volume. Sort, merge, mail & prospect by end market, materials processed, region, # of plants and more.

Learn more

Upcoming Plastics News Events

February 4, 2015 - February 6, 2015Plastics News Executive Forum 2015

June 2, 2015 - June 3, 2015Plastics Financial Summit - Chicago 2015

September 16, 2015 - September 18, 2015Plastics Caps & Closures - September 2015

More Events