Major acquisition strengthens pallet pooler’s plastics properties


Brambles Ltd., which owns CHEP, the world's largest pooler of pallets, will acquire reusable plastic container molder IFCO Systems for more than $1.2 billion. The acquisition, once complete, will give Brambles, now with most of its revenues generated through wood pallet pooling, a strong footprint in the market for injection molded crates and other containers used to ship and store foodstuffs and other products.

Brambles is headquartered in Sydney, Australia, and in addition to CHEP (Orlando, FL) also owns Recall, a records management business. According to the company's filing with Australian stock market officials, the acquisition puts an enterprise value of 7.2 times Brambles' pro forma EBITDA forecast for IFCO for the year ending June 30, 2011....
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