CHEP announces intention to acquire IFCO
The leader in wooden pallet pooling intends to acquire a leader in reusable plastic containers and pallet management services.
Latest NewsState of Logistics 2016: Pursue mutual benefit ATA and Cass data continue to point to signs of confusion for the freight economy AAR reports more declines for week ending October 8 Dairy industry leader builds on mobile racking system success Fast Deliveries to Grow by 40 percent Year-on-Year Until 2025, Says New Study More News
Latest ResourceEfficiency improvements in Track/Trace Enhances Customer Loyalty Consumer satisfaction with the quality of your products is clearly important, but the service you provide before and after the sale is equally important to any business, but often overlooked as benefiting the bottom line.
Brambles Limited, the parent company of CHEP, announced the planned acquisition of IFCO SYSTEMS, NV, a leading provider of reusable plastic containers (RPCs) in 23 countries, and pallet management services in the USA. The transaction will enhance Brambles’ position as a global leader in pooling solutions, creating an entity with sales revenue of approximately US$5 billion.
The scale of the transaction requires review from the applicable regulatory authorities, as is common with transactions of this size and nature. During this period of review, expected to be completed within nine months, both companies will continue to operate as separate entities.
CHEP Americas Group President Jim Ritchie said, “This transaction represents a tremendous opportunity for our customers that supports our growth plans in RPCs and pallets. Our customers can expect no service interruptions during the regulatory review period, and significant service enhancements in the medium to long-term, including product and service innovation and greater value delivery.”
Brambles CEO Tom Gorman said, “The purchase of IFCO represents a unique opportunity for Brambles to enhance its position as the world’s 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 platform, geography and customer type.”
Once approved, the transaction would create an entity with sales revenue of approximately US$5 billion, of which more than US$4 billion would come from pooling and pallet services. The Brambles group would have more than 16,000 employees, working in 49 countries across six continents under the CHEP, IFCO, Recall, LeanLogistics and Unitpool brands.
Pallets and containers: A CHEP off the old block
More than a decade after entering the North American market, CHEP continues to be the leader in pallet pooling.
Reusable containers: Putting a cap on your container needs
CAPS does for reusable containers what CHEP does for pallets
Subscribe to Logistics Management Magazine!Subscribe today. It's FREE!
Get timely insider information that you can use to better manage your entire logistics operation.
Start your FREE subscription today!
European Logistics Update: Post-Brexit U.K. moving ahead, but in which direction? Badcock Home Furniture &more: Out with paper, in with Cloud TMS View More From this Issue