IFCO Systems has acquired Colombia's reusable plastic crate (RPC) pooling services provider Empacotecnia for an undisclosed amount.
In the last calendar year, Empacotecnia generated sales revenue of $3.3m and around six million RPC rentals.
The company is forecasting strong growth over the coming years as it increases its presence with major retail partners and launches RPCs in new sectors.
Established in 2006, Empacotecnia has seven service centres in Colombia, employing around 124 employees and 218 producers. It serves major retailers Grupo Exito and Cencosud Colombia.
IFCO Systems is a part of Australia-based Brambles Company and provides reusable packaging solutions.
Its CEO Wolfgang Orgeldinger said: "This acquisition complements our strong organic growth in South America by adding a successful market leader with strong financial returns and a promising growth outlook to the IFCO family.
"We are excited to build upon Empacotecnia's existing leadership position in the Colombian fresh food supply chain to deliver value for retailers, growers and producers.
The acquisition will drive step change for IFCO's RPC footprint in Latin America."
IFCO currently provides reusable packaging solutions and operates more than 225 million RPCs, which are mainly used for the transportation of fresh products from producers to leading grocery retailers.