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Chicago Industrial

Pritzker Group Buys Cicero Paper Products Company

The private equity arm of the Pritzker Group has acquired Cicero-based LBP Manufacturing, which produces an array of paper products for the retail and food-service industries, ranging from the paper sleeves that ring coffee cups to takeout containers for restaurants. On July 10, owner Barry Silverstein sold the company to Prizker Group Private Capital, which is owned by two of Chicago's wealthiest real estate moguls, JB and Tony Pritzker. Silverstein resigned as CEO and handed those duties to LBP president Matt Cook, Crain's reports. Cook says the investment by the Pritzkers is essential for LBP's future growth. In April, LBP secured 180k SF of warehouse space at 1401 N Cicero Ave. [Crain's]

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