Zeus makes first 2023 acquisition
Thursday, February 2, 2023
Acquisitive Irish packaging group Zeus Packaging has acquired Polpack, which distributes packaging materials and packaging machinery in Poland.
The deal, which was announced today (2 February), is the first step in Zeus’ 2023 acquisition strategy, further consolidating its operations across Europe.
It follows the firm’s acquisition of Swanline Group and its sister company BoxMart, as well as Canadian agricultural supply business Agri-Flex, last year.
Established in 1993, privately-owned Polpack has grown its annual revenue to more than €8.5m (£7.6m).
Headquartered in Warsaw, the 40-staff business has seven sales offices throughout Poland supported by warehousing, logistics, and manufacturing facilities.
During the past 12 months Zeus has added a further €75m of revenue through acquisition. It said this latest purchase represents the start of a program of further growth plans in 2023 aimed to navigate the circa-€470m business to revenues of more than €500m.
Zeus CEO Keith Ockenden said: “We set up Zeus Poland in 2010 with revenues now exceeding €5m and a full range of packaging solutions for food production, retail, manufacturing, e-commerce and 3PL organisations.
“The acquisition of Polpack is a natural fit for our Poland operation, offering synergies to combine scale, leverage operational efficiencies and expand our product and service offering to our collective client base.
“Our European reach has strategically expanded during the past two years with Zeus now operating across 16 countries throughout Europe.
“Polpack’s capabilities in the provision of packaging and machinery solutions compliments our strategy to diversify our offering across Europe within the industrial and transit packaging sector enabling us to offer clients options to consolidate supply chains and leverage greater value.”
Polpack owner Wojciech Zdzieborski added: “Today is a new step in the Polpack journey. We are excited to work with Zeus, combining their global reach and infrastructure with our experience, technical skills, knowledge and understanding of customer needs in packaging machinery, developing, and manufacturing.
“This partnership will improve productivity, enhance efficiencies and deliver greater value to our customers.”
Zeus Packaging’s customers include Kaufland, Lidl, Aldi, ABP, Harrods, Musgrave, Ryanair, and McDonald’s. Established by Brian O’Sullivan in 1998, the business now employs over 900 people worldwide.
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