Chequers Capital, a private equity firm, completed the acquisition of Alliance Etiquettes, a designer and manufacturer of premium labels, mainly for the food, beverage and cosmetics industries, from Activa Capital, an independent private equity company, £177m. Chequers intend to support the management and the company in its ambitious plan to consolidate the sector, in France and in Europe. The group will benefit from a sustained organic growth to address new markets and regions and become a key partner for the high-end tailor-made label manufacturing sector.