IRELAND – Zeus Group, an independently owned Irish packaging company, has expanded its vertical integration strategy with the acquisition of Weedon Group, an integrated corrugated manufacturer based in the UK.
The deal, completed on Tuesday (9 April), emphasizes Zeus Group’s commitment to sustainable packaging, prioritizing paper-based solutions over plastic-based production.
Weedon Group, with revenues exceeding £30 million per annum and over 250 employees across two UK locations, adds significant value to Zeus Group, increasing its expected annualized revenues to €560 million (£479 million). There are no immediate plans to change staffing levels or the Weedon brand.
Keith Ockenden, CEO of Zeus Group, highlighted the strategic importance of the acquisition: “The acquisition of Weedon Group is a pivotal aspect of Zeus Group’s Vertical Integration Strategy.
“We now possess comprehensive in-house capabilities across the paper supply chain, from raw material processing to manufacturing, distribution, and retail.”
Ockenden emphasized Zeus’s investment focus on paper-based solutions, aligning with their dedication to providing sustainable packaging alternatives and independent supply options to global businesses.
“Our investment strategy is also focusing on paper-based solutions over traditional plastic-based production,” added Ockenden.
“Zeus is dedicated to offering customers an independent alternative supply option from a globally positioned independent business focused on service and supply chain solutions within the packaging sector.”
John Weedon, managing director of Weedon Group, expressed optimism about the acquisition: “Zeus has demonstrated a commitment to providing complete sustainable packaging solutions along with value-added services and continuous improvement principles that enhance supply chain efficiency.”
The transaction was managed internally by the Zeus M&A team, led by group CFO Sean O’Keeffe, with financial due diligence supported by EY and legal due diligence from TLT.
Zeus Group’s recent strategic investments in paper-based packaging are aligned with its sustainability goals and commitment to reducing Scope 3 emissions.
Ockenden emphasized their participation in the Science Based Targets Initiative, aiming for net-zero emissions by 2050.
With a global presence across 38 countries and employing 1,300 people worldwide, Zeus Group continues to strengthen its position in the packaging industry through strategic acquisitions, including recent purchases of Cima Paper in Italy, James Hamilton Group in Northern Ireland, and Polpack in Poland.
These expansions build upon previous acquisitions of Swanline Group, BoxMart, and Agri-Flex, demonstrating Zeus’s ongoing commitment to innovation and sustainability in packaging solutions.
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