The Carlyle Group is acquiring Chesapeake, a supplier of paper-based packaging products, from Irving Place Capital and Oaktree Capital Management. Carlyle is using its Europe Partners III fund to finance the transaction. Based in the U.K., Chesapeake makes paper-based leaflets, labels and cartons, primarily for the pharmaceutical, confectionery and premium drinks markets. 2012 revenues came in at €580 million ($754.06 million). Irving Place and Oaktree partnered with company management to acquire Chesapeake in June 2009.