Irish-owned global packaging company Zeus has acquired Swanline Group and its sister company BoxMart in an agreement worth more than EUR 25 million (£ 21,4 million). Zeus said the deal, which was completed on June 6, means it is on track to be the largest single shareholder packaging company in the world by 2023.
Combined, Swanline and BoxMart have total sales of over EUR 30 million. As well as strengthening Zeus’ position in the retail, food and beverage, and e-commerce packaging sectors, the addition of these acquisitions will keep Zeus on target to achieve annualised revenue of EUR 500 million next year. Forecasted annualised revenues for the business this year are expected to exceed more than EUR 400 million.
«It is a significant day for Zeus as we continue our current investment strategy with the acquisition of two very strong players in the UK packaging sector» says Zeus CEO Keith Ockenden .
«Swanline Group and BoxMart bring with them long-established customer bases, in-depth knowledge about their respective sectors, and dedicated diverse teams who are committed to serving their customers.
As a combined entity, we have enhanced our reach and offering across the UK, with further opportunity to maximise efficiencies across our distribution and supply chains, whilst broadening our product and service offerings to our existing customers».
Established in 2001, Stone, Staffordshire-headquartered Swanline Group is a trade-only supplier of paper-based materials, print and conversion services to the packaging and POS sectors.
The company has four purpose-built sites housing large-format, screen, and digital printing and converting operations, as well as extensive warehousing and distribution capabilities.
BoxMart offers gift, retail, and e-commerce packaging to clients including Lush, Fever Tree, and Moet Hennessy. It also has an online store for the purchase of stock packaging products. 150 people are employed across both businesses, and they will all remain with the group. Managing director of Swanline Richard Towers and group CEO Nick Kirby will both remain in their current roles.
There are currently no plans for the group to relocate and Swanline and BoxMart will retain their current names. «Our journey over the years has provided opportunities to strengthen our capability, widen our offering and learn new disciplines» says Zeus founder Brian O’Sullivan. «The addition of these businesses into our family will complement the range of solutions we provide our customers, strengthen design, creativity and innovation within packaging and introduce a depth of experience within new sectors».