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20/10/2021

Well-known Limerick company acquired in multi-million euro deal

Well-known Limerick company acquired in multi-million euro deal

Zeus has announced the acquisition of Limerick Packaging

ZEUS, the Irish-owned global packaging solutions company, has announced the acquisition of Limerick Packaging, a leading supplier to the Irish industrial and transit packaging market.

The acquisition marks an ongoing investment strategy by Zeus to expand its capabilities in the corrugated packaging sector across Ireland. 

The company says it intends to comprehensively invest in its industrial and transit packaging offering, strengthening its current infrastructure through the acquisition of Limerick Packaging.

Founded in 2002 by Connie Ryan and Mike Boland, Limerick Packaging has an annual turnover of €17.4 million. The business has strategically focussed on providing corrugated packaging solutions to the health and food processing sectors.

Established by Brian O’Sullivan in 1998, Zeus has an annualised turnover of €325 million and employs 670 people worldwide. 

Commenting following the announcement of the acquisition, Zeus CEO Keith Ockenden said: “The acquisition of Limerick Packaging is a major step in the next phase of our growth plan. Integrating both Limerick Packaging’s and Zeus’s industrial and transit packaging reach in Ireland, coupled with our foothold in the UK market, will deliver economies of scale, operational efficiencies, and customer service improvements. It will also allow us to provide a more comprehensive range of products and services for our combined customers."

Mr Ockenden says Zeus has sourcing capabilities across Europe and that the acquisition will will bring its total storage and distribution capacity in Ireland to over 600,000 square feet. 

“We are proud to be working with this successful, Irish-owned business which supports 45 jobs in the Limerick region. Limerick Packaging is renowned for its high level of customer service, providing bespoke optimised packaging solutions," he said.

Zeus says growth in the home delivery sector is seeing demand for packaging increase by over 20% and that the acquisition will better enable it to provide both bespoke and off-the-shelf solutions to Irish businesses and cements its ambition of becoming the leading industrial and transit packaging supplier across Ireland and the UK.

The addition of Limerick Packaging’s 45 staff will bring Zeus’s personnel on the island of Ireland to 221. Earlier this year, Zeus completed a €40 million, two-year programme of strategic acquisitions with the purchase of Austrian firm Petruzalek expanding the group’s distribution and logistics capabilities in food and industrial packaging across 26 countries world-wide.

The acquisition of Limerick Packaging will be complimented by a further €150,000 investment in Zeus' in-house CAD design capabilities.

"We have also recruited experienced packaging technologists who are trained in continuous improvement. Our experienced staff will provide a dedicated packaging design service, assessing and evaluating the needs of our customers, assisting in optimising packaging use and pack process efficiencies, encouraging more environmentally sustainable packaging solutions and ensure packaging works harder in maximising brand presentation and improving the customer ‘unboxing’ experience,” said Mr Ockenden.

Connie Ryan, Managing Director of Limerick Packaging added: “Zeus is a company that we have admired since we first started our business almost 20 years ago and we are excited with the opportunity to become part of the Zeus family. Our team are specialists in their field and are looking forward to sharing their insights and experience with the Zeus team. We are all incredibly excited for the new opportunities and capabilities that being part of this global company will offer, ultimately to the benefit of our valued customers.”

The proposed acquisition is subject to formal approval by the Competition and Consumer Protection Commission.

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