Irish-owned global packaging company Zeus has acquired Canadian agricultural supply business Agri-Flex.
Established in 1995, Agri-Flex supplies crop packaging products and horticultural consumables to the Canadian agricultural market, with sales exceeding $14m per annum.
The acquisition marks the next phase of Zeus’s €35m investment strategy, after it acquired Ireland-based Limerick Packaging in October 2021.
In February 2021, Zeus concluded a previous two-year long €40m investment programme, which saw it acquire seven companies including Austrian company Petruzalek, Dublin-based Essential Supplies and tissue manufacturer Aldar Tissues.
Zeus Chief Executive Keith Ockenden said: “The acquisition not only strengthens and complements our current proposition within the North American market, it also demonstrates our commitment to our existing loyal customer base who have supported Zeus in this region.
“With an additional $14m of revenue, we now have the opportunity to further leverage economies of scale, strengthen our competitive offering and introduce new quality products and services to our existing and new customers.”
The purchase positions Zeus as one of the world’s largest distributors of agricultural crop packaging product.