Brambles Says That Canadian Expansion Is Paramount

Following our original story yesterday concerning the Brambles’ Paramount Pallet acquisition, here is the oficial Brambles announcement:

Brambles Limited is pleased to announce it has acquired Toronto-based Paramount Pallet, a nationwide provider of comprehensive pallet services in Canada, for C$13 million (US$13 million).

Brambles’ CEO Tom Gorman said: “The transaction reflects our strategy of growing our range of products and services. It will allow CHEP Canada to expand its collection and repair network and offer an enhanced service to existing and potential customers.”

Paramount provides pooling and repair services to the Canadian Pallet Council (CPC), an organisation with 1200 members that operates a pool of more than 7 million pallets. In addition, Paramount collects, recycles and sells non-pooled white wood pallets.

Brambles intends to maintain and support Paramount’s existing operations, including the pooling and repair services it provides to CPC members. Paramount will continue to operate as a separate brand, reporting to CHEP Canada.

Brambles is acquiring Paramount from an ownership group including management and private investors. Key Paramount management will remain with Brambles to assist with commercial integration and manage the Paramount operations on an ongoing basis. Combined, CHEP Canada and Paramount will operate across 34 locations in six of Canada’s
provinces, employing approximately 750 people.

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