Zeus, the Irish-owned global packaging solutions company, today officially opened its state-of-the-art €15 million Dublin premises with the announcement of its strategic acquisition of Essential Supplies, a leading Irish hygiene supplies company.
Founded in 1992, the Naas-based company, which will continue to trade as Essential Supplies, has an annual turnover of €7 million. Driven by this acquisition and expanded product offering, Essential Supplies predict company growth of 20% and a 50% increase in staff over the next two years. The acquisition was supported by Ulster Bank.
In 2019, Zeus forecasts turnover of €170 million, building on last year’s turnover of €150 million, and will be expanding its European capabilities through further acquisitions. Their new 250,000 sq ft Dublin facility is an integral part of the company’s recently launched €2.5 million e-commerce site.
Speaking on today’s announcement, Managing Director of Zeus, Brian O’Sullivan said: “This latest acquisition marks the next step in Zeus’ Irish and European strategic expansion path. Essential Supplies has built a highly successful business model, with invaluable relationships with key distributors nationwide. Our acquisition means that this Irish-owned business will expand their product offering to their network, leading to increased growth.
“Today, we have also officially opened our Dublin headquarters, which have now doubled in size. The new facility will drive and support our flagship e-commerce site, which allows individuals to order from our full range of products.”
Commenting on the announcement, Founder and Owner of Essential Supplies, John Moran said: “Over the last 27 years, we have built a successful business with a strong reputation nationwide. Essential Supplies’ commitment to providing quality products and service will not change and the entire team is excited to work with Zeus and build on our growth to date.”
Commenting on the transaction, Managing Director, Commercial Banking Division, Ulster Bank, Eddie Cullen said: “Ulster Bank is a strong supporter of Irish business and we are committed to providing help for what matters. Our sectoral experts listened to the specific requirements of Zeus, and working with them we tailored a financing package to meet their unique needs. We’re delighted, that with our support, they’re now taking another important step forward, with the acquisition of Essential Supplies. This acquisition funding forms part of a suite of finance facilities provided by Ulster Bank that will support the next phase of Zeus’ exciting growth ambitions.”
Partner in Deloitte Financial Advisory, Ronan Murray added: “We are delighted to have provided transaction services to Zeus, a Deloitte Best Managed company, on the acquisition of Essential Supplies.”