BXB Brambles Limited

   By Ross Kelly 
 

SYDNEY--Brambles Ltd. (BXB.AU) said it bought container business Pallecon for EUR135 million (US$177 million) from CEVA Logistics.

Pallecon provides containers for transporting liquids in the food, cosmetic and chemical industries. The purchase price equates to 7.4 times Pallecon's earnings before interest, tax, depreciation and amortization in the fiscal year ending Sept. 30, Brambles, an Australia-based pallets supplier, said in a statement to the local stock exchange Monday.

CEVA Logistics is owned by affiliates of private equity firm Apollo Management LP.

Write to Ross Kelly at ross.kelly@wsj.com

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