The publishing company said the acquisition, which was announced last week, would protect a route to market for its print publishing titles.

Peter Vandermeersch, CEO of Mediahuis Ireland, said: “This acquisition is evidence of our continued commitment to diversifying our wholesale division.

“By combining Reach’s extensive logistics infrastructure and customer base with Paramount’s excellent track record in design, sourcing and delivery of packaging products, we’re confident we can capitalise on potential synergies between the organisations and generate significant additional resources to prolong the lifespan of our market-leading print publishing titles.”

James Kavanagh, Paramount CEO, added: “We’re delighted to have joined forces with Reach as it gives us access to their wide customer base and extensive distribution network."

Paramount Packaging supplies food, industrial, luxury, and pharmaceutical packaging products to a wide range of business customers. Based in Arklow, Co. Wicklow, the company was established in 1997.

Reach Group is a logistics and supply chain specialist, operating in a raft of sectors across multiple channels including grocery retail, hotels, cafés, delicatessens, schools, hospitals, medical centres, pharmacies, and libraries.

The company comprises several business units, including Reach-Delpac, a supplier of catering disposables, food-to-go packaging, hygiene products, and luxury retail packaging; Reach Stationery, a stationery wholesale operation; and Newspread, a major distribution organisation for newspapers and magazines in Ireland.