Grant Thornton advises Swanline Group and BoxMart Limited Swanline Group and BoxMart Limited have been sold to Zeus Packaging Group

June 2022
Swanline Group
BoxMart Limited
Adviser to Swanline Group and BoxMart Limited on their sale to Zeus Packaging Group
Grant Thornton team
Sell side
Corporate finance
Flag of the United Kingdom

We are delighted to have advised Swanline Group and BoxMart Limited on their sale to Zeus Packaging Group.

Swanline Holdings Ltd, Swanline Paper & Board Ltd, BoxMart Ltd (combined ‘Swanline Group’) is a specialist print and packaging supplier that delivers design led services to a mix of blue-chip trade, end-users and packaging companies.

Providing a complete end-to-end service from constructional design, print and conversion through to distribution, the business experienced a strong performance over recent years as a result of changing consumer trends and e-commerce growth.

With a varied shareholder structure for the three different businesses the transaction was complex. The objective was to find a single buyer for all businesses that would value each businesses position in the market and drive the next phase of growth.

The team ran a tailored sale process, concluding a sale of all three companies to Zeus Packaging Group who were seeking to strategically develop their product and service offering in the markets served by the Swanline Group.

The result of the competitive process was that the most aligned strategic partner for Swanline Group was found.

With a complex transaction, multiple shareholders and stakeholders, the team successfully negotiated a transaction that suited all parties and will enhance Swanline Group’s future growth.

The transaction process was tightly managed to ensure deliverability on the agreed terms.


Grant Thornton were fundamental in ensuring a great outcome for all shareholders and we wouldn’t hesitate in recommending the team. Clear and pragmatic advice was provided throughout the process ensuring any challenges that came with the process were overcome. We are delighted with the final result and look forward to the future as part of Zeus Packaging Group.

Nick Kirby CEO, Swanline Group

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