Chesapeake continues investment drive with Polish acquisition

Cezar produces folding cartons and wet-applied, self-adhesive and in-mould labels at its main site in Bialystok, north-east Poland where it employs over 300 people. The company also has a satellite operation in Belarus.

“The acquisition of Cezar is an important step in our strategy to develop and further extend our integrated supply network,” said Chesapeake chairman and chief executive Jerry Kerins.

“We have also embarked on a major investment programme which has benefited sites in the UK, Ireland, France, Germany and China,” he said.

The acquisition strengthens Chesapeake’s position in central Europe where it already has a plant in Hungary.

In the last couple of months Chesapeake has invested in a GUK folding machine and a KBA press at its Greenford site to meet growing demand for pharmaceutical leaflets.

Chesapeake’s private equity owners promised to invest in growth after they completed their £330m acquisition of the carton and plastic packaging group in 2009.

US-based private equity houses Irving Place Capital Management and Oaktree Capital Management finalised the $485m deal on 1 May 2009, four months after Chesapeake’s fall into chapter 11 bankruptcy protection at the end of December.

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