Zeus acquires hygiene supplies company as it forecasts €170m turnover
IRISH-OWNED packaging solutions company Zeus has acquired Essential Supplies, a Naas-based hygiene supplies business.
Founded in 1992, Essential Supplies has an annual turnover of €7m.
It will continue to trade under its current name.
Driven by this acquisition and an expanded product offering, Essential Supplies predicts company growth of 20pc over the next two years.
To meet demand, the businesses expects its headcount to increase by 50pc to 16 staff over the same period.
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," he added.
The acquisition was supported by Ulster Bank.
Commenting on the deal, founder and managing director of Zeus, Brian O'Sullivan, said: "This latest acquisition marks the next step in Zeus' Irish and European strategic expansion path.
"Our acquisition means that Essential Supplies will expand their product offering to their network, leading to increased growth."
Meanwhile, in 2019, Zeus forecasts turnover of €170m, building on last year's revenue of €150m.
The group also plans on expanding its European capabilities through further acquisitions.
Founded 11 years ago in Cork, today Zeus employs 185 in Ireland, and a total of 325 people worldwide.
Along with its Irish headquarters, the company has a presence in the UK, Germany, Spain, Portugal, Poland, France, New Zealand, Canada, China and Australia.
The announcement came as Zeus yesterday opened its new €15m premises in Dublin.