DUBLIN--(BUSINESS WIRE)--Zeus, the Irish-owned global packaging solutions company, has announced today the acquisition of Canadian agricultural supply business, Agri-Flex. Positioning Zeus as one of the world’s largest distributors of agricultural crop packaging product, this acquisition marks the next phase of the company’s €35 million investment strategy.
Established in 1995, Agri-Flex is a leading supplier of crop packaging products and horticultural consumables to the entire Canadian agricultural market, with sales exceeding $14 million per annum. This latest addition to Zeus’s agricultural offering enhances its position in this specialist market sector where it has global revenues of €45 million.
Speaking on the announcement, Zeus CEO Keith Ockenden said: “Agri-Flex is an established and well-respected agricultural supplies business within Canada. 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 $14 million of revenue, we now have the opportunity to leverage further economies of scale, strengthen our competitive offering and introduce new quality products and services to our existing and new customers.”
Mr Ockenden added: “We are delighted to welcome 13 additional staff into the Zeus organisation. Their knowledge, understanding and technical expertise will bring valued advice on best practice forage production and conservation. We look forward to working with the Agri-Flex team, delivering our product and service offering to our combined customers.”
Agri-Flex founder Gilles Vezina said: “As a company with a wealth of experience in the global agricultural sector, I am delighted to have agreed this transaction with Zeus. The scale and capabilities of the Zeus organisation will deliver greater value to both our staff and customers. We look forward to joining the Zeus family and developing our business further across Canada.”
In 2021, Zeus acquired Ireland-based Limerick Packaging. The company expects revenues to exceed €370 million in 2022.
Zeus manufactures and supply a range of quality silage stretch films, silage covers, baler twines and round bale net wrap that are utilised in the production, handling and conservation of haylage, silage and bedding straw, used on farms in the management of dairy and beef livestock.
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