Brambles to sell document management business and focus on pallet pooling

Brambles, the owner of the CHEP pallet pooling business, will sell Recall - its document management business and focus on its core activity of pallet pooling.

Chairman Graham Kraehe said: “It was evident from the strategic planning process that Recall is a strong business with improving returns and a positive outlook. However, the growth opportunity in pooling solutions is sufficiently compelling to drive a single focus for Brambles.”

CEO Tom Gorman added: “We have forecast US$550 million of organic growth investment opportunities in our RPCs, Containers and emerging markets businesses to support expansion over the 2012 and 2013 financial years and we expect to identify more growth opportunities as we deliver our strategy.”

In addition to investing in pooling, Brambles will use proceeds from the Recall sale to reduce debt in line with its targets.

Brambles established the records management business Recall in 1999.