July 15, 2013
Vol. 15 No. 14
An N.V. Publication
Market News
Avery Dennison,
CCL Complete Deal
Avery Dennison Corp., Pasadena,
California, has completed the sale of
its Office and Consumer Products
and Designed and Engineered Solu-
tions businesses to CCL Industries
Inc. for $500 million. Avery Denni-
son says it expects net proceeds
from the sale of about $400 million,
which it plans to use to repurchase
shares and make an additional pen-
sion plan contribution. The deal is
subject to customary closing adjust-
ments and is expected to be final-
ized during the third quarter.
Carlyle Group
Buys Chesapeake
The Carlyle Group, a global asset
management company, has acquired
Chesapeake, a global supplier of
paper-based packaging products
and services, from Irving Place Capi-
tal and funds managed by Oaktree
Capital Management.
Headquartered in Nottingham, UK,
Chesapeake employs nearly 5,000
employees across 38 sites in nine
countries. The company produced
revenues of
580 million in 2012.
(Cont’d on Page 17)
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Multi Packaging
Solutions Acquired
by Greg Kishbaugh
ulti Packaging Solutions, a folding carton and label pro-
ducer with 16 manufacturing facilities in the United States
and Europe, has been purchased by Madison Dearborn Part-
ners from Irving Place Capital. Terms of the transaction were
not disclosed.
Multi Packaging has a strong customer base in the healthcare,
consumer, and media end markets. Under Irving Place Capital’s
ownership, the company has reportedly ex-
panded significantly and now employs 2,600
employees worldwide.
“In 2005, we backed entrepreneur Marc
Shore [Chief Executive Officer of Multi Pack-
aging Solutions] with the shared vision of cre-
ating a packaging company that didn’t exist in
the marketplace,” said Phil Carpenter, a Senior Managing Direc-
tor at Irving Place Capital.“Over the past eight years, Marc and
the MPS management team have seized that opportunity, com-
pleting seven add-on acquisitions, entering new end markets,
and investing aggressively to establish a global business to reach
new customers.”
Multi Packaging has a solid foundation built
upon acquisitions. From 2005 through 2011,
the company purchased seven companies, including Hamilton
Printing, Hilltop Press, Steketee-Van Huis, Innovative Folding
Carton Company, Great Western Industries, Ivy Hill Corpora-
tion and CD Cartondruck.
Our new partnership [with Madison Dear-
born] will allow us to accelerate growth —
Marc Shore
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