By Ross Kelly
SYDNEY--Logistics company Brambles Ltd. (BXB.AU) said Tuesday it
acquired Ferguson Group, a supplier of containers to the offshore
oil-and-gas industry, for GBP320 million (US$515 million) including
debt.
The deal fits with Brambles' plan to diversify revenue sources
in the goods-transportation business, while shedding other assets
such as document-management and garbage-collection units.
The Australian company, which is also the world's biggest
supplier of wooden pallets used to cart goods, said the acquisition
represents 10 times Ferguson's forecast earnings before interest,
tax, depreciation and amortization in calendar 2014. The purchase
price includes Ferguson's net-debt balance of GBP53.8 million.
In recent years, Brambles has also bought specialist aerospace
and bulk-container businesses, as well as a company that makes
reusable plastic containers for transporting fresh produce.
Brambles spun off its Recall document-management business in
December, and sold its Cleanaway waste-management business in
2005.
Write to Ross Kelly at ross.kelly@wsj.com
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