Brambles to Sell Recycled Whitewood Pallets Unit in US$115 Million Deal
09 Gennaio 2018 - 12:25AM
Dow Jones News
By Mike Cherney
SYDNEY--Logistics company Brambles Ltd. (BXB.AU) said Tuesday it
would sell its North American recycled whitewood pallets business
to a Colorado-based private equity firm in a deal valued at US$115
million including debt.
Brambles said in August that it was looking to divest its CHEP
Recycled unit, which provides a network of pallet management
services in the U.S. and Canada. It supplies and recycles over 90
million pallets annually.
The deal with Grey Mountain Partners is subject to standard
regulatory approval but is expected to be completed within 45
days.
CHEP Recycled manages 161 plants and total pallet management
sites, of which 73 service the CHEP Recycled business. Those 73
sites will be transferred to Grey Mountain. The remaining sites,
which service the CHEP USA pooled pallets business, will be
retained by Brambles.
-Write to Mike Cherney at mike.cherney@wsj.com
(END) Dow Jones Newswires
January 08, 2018 18:10 ET (23:10 GMT)
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