Zeus, the Irish-owned global packaging solutions company, last week announced its acquisition of VaioPak Group, a leading UK packaging company, as part of the company’s strategic global growth plans.
This announcement brings the value of Zeus’s latest three acquisitions to a combined total of €15 million.
This strategic acquisition will allow the company to strengthen its foothold in the UK market while VaioPak predict company growth of 15%.
The award-winning Essex-based company, which will continue to trade as VaioPak, has an annual turnover in excess of £5 million.
In December 2018, Zeus acquired Dublin company Aldar Tissues, followed by Naas-based Essential Supplies in February 2019. Due to this period of accelerated growth, Zeus forecasts turnover in 2019 to reach €175 million, with a target of €200 million in 2020.
Over the next six months, the company will be building out and strengthening their senior management team with several key hires as Zeus continues to expand their footprint across Europe.
Employing 185 in Ireland, and 350 in total across 12 countries worldwide, the conpany place a strong focus on sustainability and innovation.
Speaking on the most recent announcement, Zeus owner, Brian O’Sullivan from Fermoy, said: “Since I founded the company in 1998, a key part of Zeus’s strategic global growth has been identifying successful companies whose innovation and ambition will match and drive our own.
“VaioPak is a key player in the UK, with high-value and high-profile clients. The VaioPak team has also built a powerful e-commerce platform with an embedded client base that Zeus can leverage for increased cut-through into both the UK and the US.”