Packaging company Zeus has acquired two companies for a combined €12 million as it continues its expansion in the UK.
The Irish business has acquired Smith Bateson, a Liverpool-based paper and polythene distributor, and Lincolnshire-headquartered food services packaging business, Van Der Windt.
The combined turnover of the two companies is £35 million (€39.5 million).
The deals bring to five the number of transactions completed by the Dublin-headquartered company this year. In May, Zeus acquired Essex-based VaioPak for £5.5 million. A few months earlier it bought Dublin-based Aldar Tissues and Naas-headquartered Essential Supplies.
Established by Brian O’Sullivan in 1998, Zeus employs 185 people in the Republic and 400 in total across 12 countries. The group’s turnover rose to €150 million from €135 million in 2018, with the company forecasting revenues of €180 million this year and a target of €225 million for 2020. This is up from a previous estimate earlier this year for sales of €175 million in 2019 and €200 million next year.
Mr O’Sullivan said the company was on track to become the largest independent packaging distribution business across Britain and Ireland.
“Strategic moves such as the expansion of our UK foothold, along with recent investments in our infrastructure, are an integral part of Zeus’s long-term strategy. Over the last year, we have significantly extended our reach into new markets, diversified our product range, particularly in the area of sustainable packaging, and enhanced our client network,” he said.
“This growth enables us to further deepen our focus on sustainability in 2020, fulfilling our commitment to delivering innovative products for our valued clients in Ireland, the UK and across Europe,” Mr O’Sullivan added.