Chesapeakes European speciality packaging business has acquired Glasgow-based Lithoprint, a supplier of printed wet-applied labels and commercial printing.


Following the "substantial deal", Lithoprint will become a division of Chesapeake-Field, in a move that will broaden Chesapeakes presence in the European alcoholic drinks sector.


Lithoprints joint managing director, Iain Halliday (pictured left, with fellow joint managing director Bob Oliver), said the firms turnover for the year was heading towards the 10m-11m mark.


"We were not looking for a sale, but we think that this is the right move for all sectors of the business," he added. "We had reached the stage where there was a window of opportunity, and whereas the plan was to invest for next year, this deal will mean we can invest substantially more, and we can become a bigger player."


Following the deal, both Halliday and Bob Oliver will remain as joint managing directors, with Lithoprint retaining its name.


Lithoprint emerged from an MBO led by Oliver and Halliday in 1994 from the Spencer Printing Group. It employs 112 staff and its main business is across three sectors: labels, financial printing and commercial printing. Scottish Equitable and Allied Distillers are major clients, and kit includes Roland 305 & 306 presses.


Story by Andy Scott