Chesapeake Fortifies Global Merchandising Capabilities Through Completion of Acquisition

Business Wire, Oct 22, 1999

RICHMOND, Va.--(BUSINESS WIRE)--Oct. 22, 1999--

Chesapeake Corporation (NYSE: CSK) announced today that its wholly owned subsidiary, Chesapeake Display & Packaging Company, completed the acquisition of Consumer Promotions International Incorporated (CPI), one of the world's foremost designers and manufacturers of point-of-purchase displays.

CPI, based in Mount Vernon, N.Y., has operations in the United States, the United Kingdom and France, and has approximately 300 employees. CPI's annual sales are approximately $50 million.

CPI President and Chief Executive Officer Michael De Gennaro will remain president of CPI and also has been elected senior vice president, Chesapeake Display & Packaging. De Gennaro said, "CPI is excited to be part of a larger corporation that is dedicated to supporting and enhancing the brand image of quality consumer products companies."

Chesapeake President and Chief Executive Officer Thomas H. Johnson said, "This acquisition further fortifies Chesapeake Display & Packaging's position. CPI's reputation for excellence, a strong management team, and a complementary customer base make this an attractive addition to Chesapeake's portfolio."

Chesapeake Corporation, headquartered in Richmond, Va., is a specialty packaging and merchandising services company with over 40 locations in North America, Europe and Asia. Chesapeake's web site is http://www.cskcorp.com .

This news release, including comments by Thomas H. Johnson, contains forward-looking statements that are made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. The accuracy of such statements is subject to a number of risks, uncertainties, and assumptions that may cause Chesapeake's actual results to differ materially from those expressed in the forward-looking statements including, but not limited to: competitive products and pricing; production costs; particularly for raw materials such as waste paper and corrugated box and display materials; fluctuations in demand; government policies and regulations affecting the environment; interest rates; currency translation movements; Year 2000 compliance issues; and other risks that are detailed from time to time in reports filed by the Company with the Securities and Exchange Commission.