|Home: Global Wood||Industry News & Markets|
Zeus Group adds Cima Paper to expand
Zeus Group has hit the acquisition trail again with the addition of Italian paper company Cima Paper.
Cima has sales of €65m and is a converter of paper and board for the packaging sector. Irish-based Zeus said that the deal will “leverage Cima Paper’s scale, expertise, and resources into existing and future supply chains, enhancing current manufacturing capability, streamlining existing Italian operations and expanding Cima’s geographical reach across Europe”.
Keith Ockenden, CEO 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 operates under the FSC Chain of Custody certification, ensuring responsible and sustainable sourcing. Their unwavering commitment to quality, customer service, and family values are completely consistent with the culture of Zeus.
“Through this acquisition, we will harness our combined strengths and resources to deliver even greater value to our customers,” added Ockenden. “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.”
Giacomo and Giovanni Cima will continue to lead the operation and are “delighted to become part of the Zeus family”.
Earlier this month, Zeus snapped up James Hamilton Group. The packaging firm has also bought JJ O’Toole, Swanline Group, Agri-Flex and Polish firm Polpack.