BXB: ‘Pallet Perspectives’ from PECO Pallet

Research evidence excerpt

BXB: ‘Pallet Perspectives’ from PECO Pallet

Brambles

Company description

Brambles (BXB) is an Australian materials handling company established in 1877. Its primary subsidiary CHEP is the largest provider

of high-quality pooled pallets and container products across the Americas, EMEA and the Asia Pacific regions. CHEP offers wooden

and plastic pallets, small display pallets, crates and IBC containers. Pooling has very high barriers to entry (including significant

upfront capital investment), which has enabled CHEP to entrench its market-leading position. Its established logistics platform,

service centre network, international reach and scale advantage enable it to deliver a service advantage and maintain its long-

established relationships with core customers across industrial and retail supply chains.

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held by a research analyst account.

Conflicts disclosures

The analyst(s) responsible for preparing this research report received compensation that is based upon various factors, including

total revenues of the member companies of RBC Capital Markets and its affiliates, a portion of which are or have been generated

by investment banking activities of the member companies of RBC Capital Markets and its affiliates.

With regard to the MAR investment recommendation requirements in relation to relevant securities, a member company of Royal