CHEP Plans Acquisition of IFCO

SN STAFF

ORLANDO, Fla. — Brambles Ltd., the parent company of CHEP here, announced the planned acquisition of IFCO Systems, an international provider of reusable plastic containers and of pallet management services in the US, with U.S. offices in Houston.

The transaction will create an entity with sales revenue of approximately $5 billion. CHEP is a provider of returnable and reusable packaging solutions, notably pallets.

The scale of the transaction requires review from the applicable regulatory authorities. During this period of review, expected to be completed within nine months, both companies will continue to operate as separate entities.

“This transaction represents a tremendous opportunity for our customers that support our growth plans in RPCs and pallets, said CHEP Americas Group President Jim Ritchie, in a statement. “Our customers can expect no service interruptions during the regulatory review period.”