Zeus acquires Austrian food packaging solutions company

Zeus Packaging, an Irish packaging manufacturer and distributor, has acquired Austrian-based food packaging solutions business Petruzalek, which was part of Sirap-Gema Group. The acquisition marks the seventh business to be integrated into the Zeus family during the past 18 months, and will expand and strengthen the company’s geographic presence across 12 countries in western, central and eastern Europe.

Keith Ockenden, CEO of Zeus, explained: “The purchase of Petruzalek significantly extends our reach into new markets, brings complementary diversification to our product range and further enhances our client network. Petruzalek’s product range utilises low environmental impact renewable, recyclable and compostable materials enabling us to further deepen our focus on sustainability in 2021.”

Established by Brian O’Sullivan in 1998, this acquisition brings the number employed by Zeus from 450 people across 14 countries to 670 people across 26 countries. In the company’s statement, it is reported that the group’s turnover has grown substantially over the past three years, reaching €208 million (US$252 million) in 2020, and expected to reach €280 million (US$340 million) for 2021.