Brambles buys outstanding shares of IFCO Japan

Brambles Ltd., operator of a global plastic pallet pool, has acquired the remaining two-thirds of IFCO Japan that it did not already own.    Brambles Ltd., operator of a global plastic pallet pool, has acquired the remaining two-thirds of IFCO Japan that it did not already own.
   The transaction was valued at 4.84 billion yen (U.S. $39.7 million). IFCO Systems, along with pallet pool operator CHEP, are subsidiaries of Brambles.
   “Gaining full ownership of IFCO Japan is a key strategic step for IFCO in the continued expansion of our reusable plastic crate (RPC) business, which serves retailers and fresh food producers in most of the world’s major economies,” said Wolfgang Orgeldinger, chief executive officer of IFCO Systems, in a statement.
   IFCO Japan generated sales revenues of 3.01 billion yen and EBITA of 818 billion yen in the fiscal year ended March 31.
   IFCO Japan is one of two RPC poolers in Japan. It was started in 1995 and, prior to Brambles’ full acquisition, was jointly owned by Mitsubishi Plastics, IFCO and Meiji Rubber & Chemical. IFCO Japan has service centers in Gifu and Saitama near the cities of Nagoya and Tokyo, respectively, and employs 30 people.