Brambles acquires logistics business of Rentapack for $63m
Source: Logistics Business Review
Australia-based logistics company Brambles has acquired the logistics business of Chile's Rentapack for $63m.
Rentapack specializes in providing pooling services for reusable plastic crate (RPC).
Founded in 2003, Rentapack has four service centres in Chile that employs around 230 people. It serves retailers including Cencosud, Montserrat, Tottus, Unimarc and Walmart.
The company is expected to generate sales of $20m and earnings before interest, tax, depreciation and amortisation of 5.2 billion pesos in 2015.
Brambles CEO Tom Gorman 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 a step change for IFCO's RPC footprint in Latin America while complementing CHEP's strong presence throughout the region."
Brambles operates in more than 60 countries through its CHEP and IFCO brands. IFCO is a global logistics business owned by Brambles.
The company that primarily serves the consumer goods, dry grocery, fresh food, retail and general manufacturing supply chains reported revenue of $5.4bn in 2013-14.
Image: Rentapack provides reusable plastic crate pooling services. Photo: courtesy of renjith krishnan/freedigitalphotos.net