Brambles Buys Container Company Pallecon
17 December 2012 - 12:27PM
Dow Jones News
By Ross Kelly
SYDNEY--Brambles Ltd. (BXB.AU) said it bought container business
Pallecon for EUR135 million (US$177 million) from CEVA
Logistics.
Pallecon provides containers for transporting liquids in the
food, cosmetic and chemical industries. The purchase price equates
to 7.4 times Pallecon's earnings before interest, tax, depreciation
and amortization in the fiscal year ending Sept. 30, Brambles, an
Australia-based pallets supplier, said in a statement to the local
stock exchange Monday.
CEVA Logistics is owned by affiliates of private equity firm
Apollo Management LP.
Write to Ross Kelly at ross.kelly@wsj.com
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