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Brambles hires Allens for $1.2bn acquisition
Allens Arthur Robinson has advised Brambles on Australian law issues as it prepares to acquire Amsterdam-based plastic crates supplier IFCO.
The New Lawyer
Allens Arthur Robinson has advised Brambles on Australian law issues as it prepares to acquire Amsterdam-based plastic crates supplier IFCO for $1.28 billion.
Brambles, the world’s largest supplier of wooden freight pallets, says the acquisition will help it target growth in emerging markets, as well as expand its small-to-medium company customer base. The acquisition has been touted as enabling Brambles to expand its reusable plastic container operations worldwide and strengthen its pallet operations in the USA. Speaking after the Brambles annual meeting last week, Brambles chief executive Tom Gorman said the acquisition would help the company diversify its product offering and reach in emerging European and Latin American economies. Under the proposed transaction, announced 15 November, Brambles plans to purchase Germany’s IFCO Systems from London-based buyout firm Apax Partners for Euro 923 million (AUD$1.27 million). Brambles will fund the transaction with a mix of debt and equity. The deal is subject to merger clearance approval in the USA and certain European countries and is expected to complete within nine months, Allens said in a statement. Allens partner Vijay Cugati lead the deal, with partners Guy Alexander and Diccon Loxton. Senior associates Robert Speed and Eve Regnard, and lawyers Nick Church, Maya Greenberg, Tom Payten, Amy Cashman and Charles Ashton also worked on the deal.
