Packaging firm Zeus has acquired JJ O’Toole as the latest part of its series of strategic acquisitions.
Ireland’s oldest packaging company, JJ O’Toole, currently employs 25 people and has customers including Dunnes Stores, Brown Thomas and Newbridge Silverware.
Zeus is on track to be the largest sole shareholder packaging company in the world by 2023.
Last month, Zeus announced the acquisition of two firms in the UK for more than €25m.
The Swanline Group and sister company BoxMart have a total revenue of more than €30m and have strengthened Zeus’s position in the retail, food & beverage and e-commerce packaging sectors.
Zeus estimates to achieve €500m annualised revenue next in 2023. In 2022, forecasted annualised revenues for Zeus are likely to surpass €400m.
Zeus has also acquired Canadian agricultural supply business Agri-Flex this year.
Over the course of the previous nine months, Zeus has added an additional €60m of revenue through acquisition.
Brian O’Sullivan, Zeus founder and owner, 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," he added.
Vicki O'Toole, JJ O’Toole owner and managing director, said: “JJ O’Toole has an incredible history of survival and success with a kaleidoscope of wonderful stories.
"The company has been the centre of packaging excellence in Ireland for over a century with an outstanding reputation, endorsed by an exceptional loyal clientele, many who have remained with the company for over 40 years.
“I am extremely proud and honoured to have steered the company successfully into its 108th year. 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," she added.
Customers of Zeus include stores such as Lidl and Harrods, as well as firms such as Ryanair and McDonalds.
Established by Fermoy man O’Sullivan in 1998, Zeus now employs more than 870 people worldwide.
The company operates from 47 locations worldwide, including Ireland, the UK, Germany, Spain, Poland, Eastern Europe, New Zealand, Canada, China and Australia.