Zeus acquires Italian paper company with annual revenues of €65m

(Left to right) Giacomo Cima, Director of Cima Paper; Brian O'Sullivan, Owner and Founder of Zeus Group; and Giovanni Cima, CEO of Cima Paper which produces a range of papers for corrugated convertors, coreboard for tubes, cores, rings and edge protectors.

Irish packaging firm Zeus is to expand further having acquired Italian company Cima Paper.

Cima was founded in 1870 and is one of Europe’s leading convertors of paper and board for the packaging sector. It produces a range of papers for corrugated convertors, coreboard for tubes, cores, rings and edge protectors. The company has annual revenues of €65m.

In a statement, Zeus said the acquisition will allow it to streamline existing Italian operations and expand Cima’s geographical reach across Europe.

The financial details of the acquisition have not been disclosed. The deal follows Zeus' acquisition of Northern Ireland business, James Hamilton Group earlier this month which has an annual turnover of around €18m.

"We are thrilled to welcome the Cima Paper to the Zeus Group family," said Keith Ockenden, CEO of Zeus Group. "With a longstanding tradition in the industry, Cima Paper aligns perfectly with Zeus Group's vertically integrated strategy, optimising supply chains and delivering enhanced value across our finished products, particularly within the manufacturing, food and retail packaging sectors.” 

Ockenden further emphasised the growing importance of sustainable solutions driven by legislation and the industry's commitment to reducing greenhouse gas emissions. "Cima Paper operates under the FSC Chain of Custody certification, ensuring responsible and sustainable sourcing. Their unwavering commitment to quality, customer service, and family values are completely consistent with the culture of Zeus.

"Through this acquisition, we will harness our combined strengths and resources to deliver even greater value to our customers," added Ockenden. "By integrating Cima Paper into Zeus Group, we are strategically positioned to offer optimised solutions, drive innovation, and ensure continuity and reliability in the supply of raw materials for paper mills."