Ireland-based packaging provider Zeus Packaging has acquired the country’s oldest packaging company, JJ O’Toole.
Founded in 1914, JJ O’Toole offers a range of packaging solutions made from both paper and plastic for the industrial, retail and food sectors.
The company employs 25 people and serves Dunnes Stores, Brown Thomas and Newbridge Silverware among other customers.
Following the acquisition, JJ O’Toole’s employees are expected to join Zeus.
The financial terms of the transaction have not been disclosed.
JJ O’Toole owner and managing director Vicki O’Toole said: “It has been a very emotional decision to sell JJ O’Toole but I believe the time is right and I am very confident the company will continue its successful journey under the robust and global Zeus umbrella.
“My colleagues and I are very much looking forward to working closely alongside Brian O’Sullivan and his team.”
The acquisition is in line with Zeus’ strategy to extend its position and capabilities in the retail, e-commerce, industrial and food and beverage sectors.
Last month, Zeus acquired UK-based companies Swanline Group and BoxMart, having previously bought Canadian agricultural supply business Agri-Flex in May.
Zeus anticipates its annualised revenues for the current fiscal year to exceed €400m and aims to achieve €500m in annualised revenue next year.
The company has added a further €60m of revenue through acquisitions in the last nine months.
Zeus founder and owner Brian O’Sullivan said: “As two strong Irish companies joining together, we are now in a stronger position than ever, allowing us to continue to deliver innovative and sustainable solutions for our combined customer base.
“Zeus also remains on track to be the largest sole shareholder packaging company in the world by 2023.”
Zeus has more than 870 employees worldwide and caters to customers from various sectors, including Clipper Logistics, Lidl, Harrods, Moet & Chandon, Ryanair and McDonalds.