Each issue of PaperMoney is approximately 500 fact filled pages.
Click here for Pulp & Paper Radio International
The Paperitalo Library
Free Downloads
My Profile
Management Side
Technical Side
Chesapeake and Multi Packaging Solutions, Inc. Merge

London, England and New York, New York, USA 19 November 2013 -- Chesapeake Services Limited (“Chesapeake”) and Multi Packaging Solutions, Inc. (“MPS”) announced today that they have entered into a definitive agreement to merge the two businesses. This merger of equals will create a leading global provider of print-based specialty packaging.  The combined company will have sales of more than $1.4 billion on a pro forma basis, employ over 7,000 people throughout the world, and operate from more than 50 manufacturing facilities on three continents.  The combined company will supply a broad range of packaging, including printed folded cartons, labels, inserts/leaflets, rigid boxes and specialist packaging for the pharmaceutical/healthcare, consumer, personal care, confectionery, spirits and multi-media end-markets.  The vast majority of operations are divided between the United States and nine countries in Europe. The combined company will also have a growing presence in emerging markets, including from an existing facility in China.

Marc Shore, MPS’s CEO, said: “Joining these two companies will greatly benefit our customers and employees.  The combined manufacturing footprint and technological capabilities are truly unique and will position us to match our customers’ needs with a broader range of products and operational flexibility.  The ability to produce these goods and services in the United States, Europe and China will also give our customers consistency on a global basis.  We are very excited to bring these two families of passionate, hardworking and committed employees together as they will ensure our future success.”

Mike Cheetham, Chesapeake’s CEO, said “I’m excited about the prospects this transaction offers for our collective customers, employees and suppliers.  Both companies have benefited from a strong ongoing investment program and will continue to invest in order to deliver on the considerable growth opportunity this merger presents.  Our extensive global network of dedicated operations provides our customers with a strategic partner for their long-term needs.”

Marc Shore has been appointed CEO of the combined company.  Mike Cheetham and Dennis Kaltman, current MPS President, will be co-Presidents and will serve with Marc on the Executive Committee responsible for overseeing the integration and growth of the combined company.

Upon completing the merger, ownership in the combined company will be split evenly between funds managed by global alternative asset manager The Carlyle Group (“Carlyle”) and Chesapeake management, who currently collectively own 100% of Chesapeake, and investment funds advised by Madison Dearborn Partners, LLC (“Madison Dearborn”) and MPS management, who currently collectively own 100% of MPS.  Completion of the merger is subject to customary closing conditions, including regulatory approval.  It is anticipated that the merger will close during the first quarter of 2014.

In connection with the transaction, Credit Suisse acted as financial advisor to Chesapeake and Carlyle, and Latham & Watkins LLP served as legal counsel.  Barclays and Moelis & Company acted as financial advisors to MPS and Madison Dearborn, and Ropes & Gray LLP served as legal counsel. Weil, Gotshal & Manges LLP served as legal counsel to Credit Suisse and Barclays.

About Chesapeake

Chesapeake is an international manufacturer of consumer packaging.  The company is a leading supplier of printed folding cartons, leaflets and labels, as well as other specialist packaging to the pharmaceutical, confectionery, spirits and food markets.  Chesapeake has 38 locations in Europe, the United States, and Asia and employs approximately 5,000 people worldwide.

About MPS

MPS is a leading, global provider of value-added packaging solutions to a diverse, blue chip customer base across the healthcare, consumer and multi-media end markets.  MPS provides its customers with an extensive array of print-based specialty packaging, including premium folding cartons, labels and inserts across a variety of substrates and finishes.  MPS has 16 manufacturing locations in the United States and Europe and employs approximately 2,500 people.


Powered by Bondware
News Publishing Software

The browser you are using is outdated!

You may not be getting all you can out of your browsing experience
and may be open to security risks!

Consider upgrading to the latest version of your browser or choose on below: