Irish global packaging company Zeus Group has boosted its presence in Europe after acquiring Italian paper company Cima Paper.
With annual revenues of €65m, Cima Paper was established in 1870 and converts paper and board for the packaging sector.
Keith Ockenden, Chief Executive of Zeus Group, said: “With a long-standing 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.”
Cima Paper’s product range includes a range of papers for corrugated convertors, coreboard for tubes, cores, rings, and edge protectors.
Giacomo and his father Giovanni Cima will continue to lead the business post-acquisition.
Ockenden added: “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.”
Earlier this month, Zeus also expand its offering in the food and retail packaging sector after acquiring Northern Ireland’s James Hamilton Group, a print and packaging business with an annual turnover of €18m.
It provides packaging, label production, office supplies, and personal protective equipment in the retail, food and beverage production, logistics and distribution markets.
