Cork Packaging Firm Zeus Buys Spanish Company Koex for €24M

Acquisition marks sixth deal in three years for Irish group, boosting annual revenue to €600M.

Published on Feb. 15, 2026

Got story updates? Submit your updates here. ›

Cork-based packaging company Zeus Packaging has acquired Spanish firm Koex Packaging Solutions for €24 million, marking the Irish group's sixth acquisition in just three years. The deal is expected to increase Zeus's annual revenue to €600 million, a 20% jump, as the company continues its rapid expansion and solidifies its position as a major player in the international packaging market.

Why it matters

The acquisition of Koex, which has offices in Spain, the U.S. and France as well as a manufacturing base in China, allows Zeus to expand its capabilities in luxury and retail packaging, complementing its existing offerings. This positions the combined group to better serve a diverse portfolio of international clients across various industries as the packaging sector undergoes significant transformation driven by sustainability concerns, e-commerce growth and evolving consumer preferences.

The details

Founded in 1998, Zeus Packaging has experienced rapid growth, now generating annual revenues of €500 million. The Koex acquisition, supported by a €150 million line of finance, is part of an ambitious growth strategy that has seen Zeus make five other acquisitions in Ireland and the UK in the past three years, totaling €90 million in investment.

  • Zeus Packaging was founded in 1998 in Fermoy, Ireland.
  • Zeus has made six acquisitions totaling €90 million in the past three years.
  • The Koex acquisition is expected to boost Zeus's annual revenue to €600 million in 2026.

The players

Zeus Packaging

A Cork-based packaging group that has grown rapidly through strategic acquisitions and now operates internationally.

Brian O'Sullivan

The founder and owner of Zeus Packaging.

Koex Packaging Solutions

A Spanish packaging company with offices in Madrid, Miami, and Paris, and a manufacturing base in Fuzhou, China.

Got photos? Submit your photos here. ›

What they’re saying

“This expansion is about building a sustainable, future-proof business.”

— Brian O'Sullivan, Founder and Owner, Zeus Packaging

The takeaway

The acquisition of Koex Packaging Solutions allows Zeus Packaging to expand its capabilities in luxury and retail packaging, positioning the combined group to better serve a diverse range of international clients as the packaging industry evolves to meet growing demands for sustainability, e-commerce innovation, and personalized consumer experiences.