Brambles CEO Tom Gorman.

Australian pallet supplier Brambles has lost its contract with US food company ConAgra, which announced it was transferring most of its volumes to an alternative pallet pooler.

The arrangements are expected to be transitioned over the course of the 2011 financial year.

According to Brambles CEO Tom Gorman, it is always disappointing to lose business. "We are focused on delivering customer needs and strengthening our product offering in CHEP USA through the Better Everyday program, which remains on track."

The contract was reported to be worth around $40 million, but Brambles is not anticipating any impact on its 2010 financial year results, saying that ConAgra's contribution to its annual sales revenue amounts to less than 1% of its revenue.