Packaging group Zeus has bought Dublin-based AC Tape & Packaging for €11.6m in a deal which will bring its annual turnover to €25m.
Set up in 1998, Limerick-based Zeus is owned and managed by Cork entrepreneur Brian O'Sullivan and currently employs 79 staff. It has made a number of acquisitions in the past three years, including Cosgrave Packaging, Elite Packaging and RJ Sales.
AC Tape and Packaging Limited has operations in Dublin and Lithuania, and has annual sales of around €7m. It will continue to trade under its own name and will retain its current staff.
Mr O'Sullivan says Zeus intends to double its turnover to around €50m within the next three to five years through acquisitions and organic growth.
