ITALY – Irish packaging supply chain firm Zeus Packaging has acquired Italian company, Cima Paper, expanding its reach further in 5the European market.
Founded in 1870, Cima is one of Europe’s leading converters 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 €65 million.
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.
Keith Ockenden, CEO of Zeus Group said: “We are thrilled to welcome the Cima Paper to the Zeus Group family.
“With a longstanding tradition in the industry, Cima Paper aligns perfectly with Zeus Group’s vertically integrated strategy, optimizing supply chains and delivering enhanced value across our finished products, particularly within the manufacturing, food and retail packaging sectors.”
Ockenden further emphasized 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,” added Ockenden.
“Through this acquisition, we will harness our combined strengths and resources to deliver even greater value to our customers.
“By integrating Cima Paper into Zeus Group, we are strategically positioned to offer optimized solutions, drive innovation, and ensure continuity and reliability in the supply of raw materials for paper mills.”
Following the acquisition, Giacomo and Giovanni Cima will continue to lead the operation and are “delighted to become part of the Zeus family”.
Earlier this month, Zeus acquired print and packaging firm James Hamilton Group for an undisclosed sum.
With an annual sales total of €18m (US$19.65m) and 120 employees, James Hamilton Group supplies packaging, label production, office supplies and PPE solutions across various sectors such as retail, food and beverage, logistics and distribution.
By joining forces with James Hamilton Group, Zeus said it will expand its current offering in the food and retail packaging sector, leveraging “the combined purchasing power” and “unlocking operational efficiencies” across the companies’ combined operations in Northern Ireland.
The acquisition expands Zeus’ product portfolio and service capabilities while bringing local manufacturing expertise in printed packaging.
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