Brink's To Acquire Brazilian Company For $145 Million; Also Will Take Charge On Theft Of An International Gold Shipment

1/11/18

By John Reid Blackwell, Richmond Times-Dispatch

The Brink’s Co., a Henrico County-based global provider of secure transportation and logistics, said Wednesday that it has agreed to acquire a Brazil-based company for $145 million in cash.

Separately, Brink’s also announced it will take a pretax charge of $11 million on its fourth-quarter earnings after the company reimbursed a customer for the theft of an international gold shipment in December.

The agreement to acquire Brazil-based Rodoban, a provider of cash-in-transit, ATM and money-processing services mainly in southeastern Brazil, is expected to close in the second quarter. It is the seventh acquisition announced by Brink’s since March 2017. The company said it has spent a total of $515 million on those deals.

Rodoban has annual revenue of about $80 million, and Brink’s said it expects the acquisition will add to its net income within 12 months.

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