IFCO Enters Chilean Reusable Plastic Crate Segment Through Acquisition Of Rentapack
PULLACH, Germany - IFCO Systems, a Brambles Company, is pleased to announce the acquisition of Renta Pack S.A. (“Rentapack"), Chile's leading provider of reusable plastic crate (RPC) pooling services. The transaction completed on 18 May 2015.
IFCO SYSTEMS' CEO, Wolfgang Orgeldinger, said: “This acquisition is consistent with our strategy of complementing our organic growth in attractive segments and geographies by acquiring companies that have a leading market position, strong financial returns and promising growth outlook. Rentapack has all of these characteristics.
“We are excited about building on Rentapack's strong position in the Chilean fresh food supply chain to deliver value for retailers, growers and producers. The acquisition will drive step change for IFCO's RPCs footprint in Latin America.
"Rentapack generated sales revenue of US$19 million and about 40 million RPC rentals in the 2014 calendar year, and is forecasting strong growth over coming years as it increases penetration with major retail partners and launches RPC products in sectors such as bakery.
Rentapack was founded in 2003 and is privately owned. It has four service centres in Chile and approximately 230 employees. The business serves major retailers Cencosud, Walmart, Unimarc, Montserrat and Tottus, as well as approximately 800 fresh produce growers.
IFCO is the leading global provider of reusable packaging solutions, operating a pool of over 200 million Reusable Plastic Containers (RPCs) in 34 countries. IFCO RPCs are used primarily to transport fresh products from producers to leading grocery retailers worldwide. IFCO's solutions help retailers and producers reduce costs and increase sales by maximizing efficiency, product protection, sustainability, and safety throughout their supply chains. IFCO is a member of the Brambles family of companies. For more information, visit www.ifco.com.
Brambles Limited (ASX:BXB) is a supply-chain logistics company operating in more than 50 countries, primarily through the CHEP and IFCO brands. The Group specialises in the pooling of unit-load equipment and associated services, focusing on the outsourced management of pallets, crates and containers. Brambles primarily serves the consumer goods, dry grocery, fresh food, retail and general manufacturing supply chains. In addition, the Group operates specialist businesses serving the automotive, aviation and oil and gas sectors. Brambles employs more than 14,000 people and owns approximately 500 million pallets, crates and containers through a global network of approximately 850 service centres. For further information, please visit www.brambles.com.