Brambles Limited is pleased to announce it has acquired Container and Pooling Solutions (CAPS), a USA-based provider of intermediate bulk containers (IBCs) and automotive containers, for US $16.4 million.
Brambles CEO Tom Gorman said: "This acquisition is consistent with our strategy of growing our pooling business. It will strengthen our IBC and automotive operations in North America and, in the longer term, support our global network and our access to intercontinental product flows.
"CAPS is a well-run business, which has experienced compound annual sales revenue growth of 14% over the past six years and has a strong sales pipeline. CAPS' executive leadership team, which has considerable industry expertise, will remain with the business to drive its next phase of growth, as part of Brambles."
Headquartered in Michigan and founded in 1998, CAPS' network comprises eight service centres offering sustainable pooling solutions and associated managed services to customers in the automotive and industrial sectors in the USA, Canada and Mexico.
CAPS CEO Robert Wiedmaier said: "The CAPS team is delighted to have become part of the global Brambles group. This transaction will give us greater ability to access the considerable growth opportunities that lie ahead and allow us to continue to provide the highest level of service to our customers."
Brambles acquired CAPS from LF Capital Partners, a private equity fund of Lazard Alternative Investments LLC.
Investors and media, for further information please contact:
Group Vice President,
+61 2 9256 5241
+61 419 290 745
Investor Relations & External Communications
+61 2 9256 5262
+61 401 524 645
Brambles (ASX: BXB) is a provider of supply chain and information management solutions
through its two primary businesses, CHEP and Recall. Brambles employs more than 12,000
people in 47 countries. For further information on Brambles and all announcements,
presentations and webcasts, please visit www.brambles.com.