Sydney-based Brambles plans to sell Interlake (Naperville, Ill.) to United Fixtures Holdings for $48 million in cash plus the assumption of the company’s pension liability. United Fixtures Holdings is a division of Wynnchurch Capital Ltd. (Lake Forest, Ill.). Interlake is one of the largest manufacturers of storage racks in North America and a leading supplier of storage, order fulfillment and factory automation systems. United Fixtures Holdings manufactures storage racks and vertical carousels, focusing on storage and display solutions for large retailers. The transaction is expected to be completed in April.
The sale follows an announcement that Brambles is going to concentrate on its CHEP and Recall businesses, where company management sees the highest growth potential.