Irish-owned, global packaging solutions company, Zeus, has announced the acquisition of Canadian agricultural supply business Agri-Flex. This positions the company as one of the largest distributors of agricultural crop packaging in the world and marks the next phase of a €35 million investment strategy.
Established in 1995, Agri-Flex is a leading supplier of crop packaging products and horticultural consumables to the Canadian market, with sales exceeding $14 million per annum.
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 – but 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 on 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. It expects revenue to exceed €370 million in 2022.
Zeus manufactures and supplies a range of 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.