Home > Brambles enters Chilean reusable plastic crate segment through Rentapack acquisition

Brambles enters Chilean reusable plastic crate segment through Rentapack acquisition

Editorial
article image Rentapack is Chile's leading provider of reusable plastic crate (RPC) pooling services

Brambles Limited announces the acquisition of Renta Pack S.A., Chile's leading provider of reusable plastic crate (RPC) pooling services. The acquisition of the privately owned Rentapack has an enterprise value of 38 billion Chilean pesos (US$63 million).

According to Brambles CEO Tom Gorman, the acquisition is aligned with their strategy of complementing their organic growth in attractive segments and geographies by acquiring companies such as Rentapack that have a leading market position, strong financial returns and promising growth outlook.

Brambles aims to build on Rentapack's strong position in the Chilean fresh food supply chain to deliver value for retailers, growers and producers. The acquisition will drive a step change for IFCO's RPC footprint in Latin America while complementing CHEP's strong presence throughout the region.

Rentapack is forecast to generate sales revenue of 11.7 billion pesos (US$19.4 million) and EBITDA of 5.2 billion pesos (US$8.6 million) in the 2015 calendar year. Strong growth is expected over the coming years as the company increases penetration with major retail partners and launches RPC products in diverse sectors.

Founded in 2003, Rentapack has four service centres in Chile and approximately 230 employees. The business serves major retailers Cencosud, Montserrat, Tottus, Unimarc and Walmart, as well as approximately 800 fresh produce growers. Key management will remain with the business.

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