Chesapeake and Multi Packaging Solutions, Inc. Merge
Staff 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.” 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.
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. 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.
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