Brambles buys Transpac

Group acquires German-based bulk container services company for €42m.

Brambles (BXB) has acquired Transpac International, a German-based provider of pooled intermediate bulk container services for €42 million ($A61.5m).

The group will make an initial payment of €23m, with the remaining €19m to be paid in two tranches in 2015 and 2016.

Brambles chief executive Tom Gorman said the takeover is in line with the company’s strategy to enhance its capabilities in Europe and North America.

“[The acquisition] is a natural fit with our pre-existing intermediate bulk container business, CHEP Pallecon Solutions, which in Europe and North America primarily specialises in servicing customers in liquid goods segments,” he said.

In the 12 months to March 31, 2014 Transpac recorded earnings before interest, tax, depreciation and amortisation of €3.7m after achieving compound annual sales revenue growth of 18% between 2011 and 2013, Brambles said.