Zeus rounds off €40m spend Darryl Danielli Friday, February 12, 2021
Acquisitive Irish packaging group Zeus Packaging has expanded its European footprint with its largest deal to date as it completes a €40m (£35m), three-year strategic shopping spree to fuel growth.
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The purchase of the €58m turnover Austrian headquartered food packaging specialist, Petruzalek, which was part of the Sirap-Gema Group, signed on Monday (8 February).
The deal for the group, which includes Petruzalek operations in Austria and Central-Eastern Europe and €8m turnover Sirap GmbH in Germany, is subject to usual closing conditions and is expected to complete in the second quarter of 2021.