IFCO is a leading provider of pooled reusable plastic containers (RPCs) to the food supply chain worldwide and of pallet services in the US. Highlights of the proposed transaction include:
Brambles CEO Tom Gorman said: “The purchase of IFCO represents a unique opportunity for Brambles to enhance its position as a leading pooling solutions provider and acquire operations with a strong growth profile. IFCO is a natural fit with Brambles’ existing RPC and pallet businesses and will allow us to continue to deliver on our strategy of diversifying our revenue base by product , geography and customer type.”
Completion of the transaction is subject to merger control clearance in the US and certain European countries in addition to customary conditions precedent. Brambles anticipates clearance occurring within nine months.
Source: Brambles Limited
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