Zeus, the Irish-owned global packaging solutions company,today announced its acquisition of VaioPak Group, a leading UK packaging company, as part of Zeus’s strategic global growth plans. This announcement brings the value of Zeus’s latest three acquisitions to a combined total of €15 million.
Made up of ten sister companies, the VaioPak Group provides an extensive range of packaging products to its extensive portfolio of high street clients. This strategic acquisition will allow Zeus 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 2016, in response to significant demand in the US market, VaioPak established Printed Cups US, which are manufactured in Chicago.
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. Zeus now employs 185 in Ireland, and 350 in total across 12 countries worldwide.
Speaking on today’s announcement, Owner of Zeus, Brian O’Sullivan 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.”
Commenting on the announcement, Managing Director of VaioPak, Joe Fogelsaid: “Over the last 10 years, the team at VaioPak has diversified its product range in response to client demand, with a focus on cutting-edge and sustainable offerings. This new step with Zeus will ensure we have the resources and reach to continue to deliver for our valued clients.