Zeus Group acquires leading Italian paper company with revenues of €65m.
Irish global packaging provider Zeus has acquired Italian business Cima Paper S.p.A.
With annual revenues of €65m, Cima Paper S.p.A. was established over 150 years ago in 1870.
“Through this acquisition, we will harness our combined strengths and resources to deliver even greater value to our customers”
Cima Paper has since solidified its position as one of Europe’s leading convertors of paper and board for the packaging sector.
Scaling globally
This latest addition to Zeus Group will leverage Cima Paper’s scale, expertise, and resources into existing and future supply chains, enhancing current manufacturing capability, streamlining existing Italian operations and expanding Cima’s geographical reach across Europe.
“We are thrilled to welcome the Cima Paper to the Zeus Group family,” said Keith Ockenden, CEO of Zeus Group.
“With a long-standing tradition in the industry, Cima Paper aligns perfectly with Zeus Group’s vertically integrated strategy, optimising supply chains and delivering enhanced value across our finished products, particularly within the manufacturing, food and retail packaging sectors.”
Ockenden further emphasised the growing importance of sustainable solutions driven by legislation and the industry’s commitment to reducing greenhouse gas emissions.
“Cima Paper operates under the FSC Chain of Custody certification, ensuring responsible and sustainable sourcing. Their unwavering commitment to quality, customer service, and family values are completely consistent with the culture of Zeus.”
Cima Paper’s product range, which includes a comprehensive range of papers for corrugated convertors, coreboard for tubes, cores, rings, and edge protectors complements Zeus Group’s existing offerings.
“Through this acquisition, we will harness our combined strengths and resources to deliver even greater value to our customers,” added Ockenden.
“By integrating Cima Paper into Zeus Group, we are strategically positioned to offer optimised solutions, drive innovation, and ensure continuity and reliability in the supply of raw materials for paper mills.”
Earlier this month, Zeus acquired Northern Ireland business, James Hamilton Group, which has an annual turnover of around €18m.
In February 2021, Zeus completed a €40m, 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. This programme began with the 2019 acquisition of Dublin-based Essential Supplies followed by manufacturer, Aldar Tissues. UK investments included 220-year-old Liverpool-based distribution business Smith & Bateson, Lincolnshire-based food packaging business Van Der Windt and Saffron Waldon-based Vaiopak Group. On 1 January 2020, it announced completion of the acquisition of Plasti-Cart operating across the Canary Islands.
In May 2021, Zeus announced a further €15m investment in Aldar Tissues, quadrupling capacity. In October 2021, Zeus announced the acquisition of Ireland-based Limerick Packaging.
During 2022, 6 acquisitions across UK, Ireland & Canada. In March 2023, Zeus acquired Polpack in Poland, a specialist manufacturer of Pallet Wrapping Machinery and suppliers of industrial packaging products.
Zeus celebrates 25 years in operation and now employs 1100 people total across 30 countries worldwide. Zeus has grown at an average rate of 25% per annum since 2018.
Main image: Zeus CEO Keith Ockenden with Giacomo and Giovanni Cima
