Irish-owned Zeus opens €15m Dublin premises as it acquires Essential Supplies firm
Zeus forecasts turnover of €170m in 2019 and is looking to expand across Europe
Global packaging solutions firm Zeus has opened a new €15m Dublin premises as it embarks on further Irish and European expansion.
The Irish-owned company also announced the acquisition of Irish hygiene supplies business Essential Supplies.
Zeus forecasts turnover of €170m in 2019 (€150m in 2018) and is looking to expand across Europe through further acquisitions.
The new 250,000 sq ft facility in Dublin is a central part of the company’s recently launched €2.5m e-commerce site.
Managing Director of Zeus, Brian O’Sullivan said that 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," he said.
Founded in 1992, with an annual turnover of €7m, Essential Supplies will continue to trade under the same name.
The Ulster Bank-backed acquisition is expect to drive growth at the Naas-based firm by 20pc with a 50pc increase in staff within two years.
Last year, Zeus announced a €27m investment in new premises in Dublin and the UK.
The company employs 185 in Ireland, and 325 in total across 13 countries worldwide.