Irish packaging company Zeus has acquired Aldar Tissues, the Finglas-based tissue manufacturer and distributor.
The acquisition will double employment at Aldar’s 38,000 sq. ft. facility over the next 18 months, with the creation of 20 new roles in addition to the company’s existing 20 full-time jobs.
Aldar Tissues was founded by Darren Farrell in 2013. He had worked in the sector, buying and selling paper rolls, for several years before founding Aldar. The business sells toilet paper, kitchen roll and tissues under several brand names, as well as supplying firms with white-label products.
Aldar Tissues Limited booked a profit of €297,000 in the 12 months to June 2017, bringing accumulated losses back to €93,000. The firm raised €1.9m in 2017, including €345,000 from Enterprise Ireland.
Zeus is owned by Cork entrepreneur Brian O'Sullivan (pictured). The Rathcoole-based firm was established in 1978 and has offices in the UK, Germany, Spain, Poland, New Zealand, Canada, China and Australia. Zeus employs 150 in Ireland and 300 in total across 13 countries worldwide.
In Association with
In its new role as part of the Zeus Group, Aldar will launch a new range of eco-friendly products in 2019, made in Ireland from recycled tissue and packaged with biodegradable and compostable film.
Brian O’Sullivan said that his firm’s acquisition of Aldar will make it possible for retail multiples to sell Irish-made kitchen towels and tissue products for the first time.
Darren Farrell said that Aldar has been supplying sustainable products to the Irish, UK and European markets since launching in 2013.
“In the past year, we have invested in innovative machinery, including a €3m investment in new converting machines, and expanded our logistical resources seven-fold. Working with Zeus is the next step in our business growth,” he added.
Zeus Packaging Group Limited’s turnover in 2017 was €131m, static on the sales figures for the year before. The firm booked a net profit of €1.8m, down from €2.6m in 2016. Year-end net worth was €24m.
