IFCO acquisition by Triton and ADIA has been finalized
PRESS RELEASE
Munich: IFCO SYSTEMS, the leading global provider of reusable packaging solutions for fresh foods, announced that today the acquisition by Triton and Abu Dhabi Investment Authority (ADIA) has been finalized on May 31, 2019. The two investment companies acquired IFCO for an enterprise value of US$ 2.51 billion. This makes IFCO a fully independent company, able to act agile and flexibly and to offer the industry’s most efficient and sustainable fresh foods packaging solutions.
Brambles, the former parent company of IFCO, acquired the company in March 2011. Since then, IFCO has grown to be the global market leader for reusable plastic containers (RPCs) for fresh foods. Today, IFCO has 32 subsidiaries around the world, which serve more than 320 retailers and over 14,000 producers in over 50 countries. The company operates more than 75 service centers and a global pool of over 290 million RPCs which are used in over 1.6 billion shipments of fresh fruits and vegetables, meat, poultry, seafood, eggs, bread, and other items from suppliers to retailers every year. In August 2018, Brambles announced the intent to sell IFCO.
On May 31, 2019, the acquisition of IFCO by Triton and ADIA has been finalized. Wolfgang Orgeldinger remains CEO of IFCO and is looking forward to the future: “We are very excited about the future and very proud to say that IFCO is an independent company again. This independence and the support by our investors will help to drive growth by expanding our customer base, strengthen the ties with existing customers, and enable us to act more flexibly to opportunities and challenges within the markets that we serve. I am sure that we will build on the record financial results we achieved last year. IFCO is well positioned for its future as an independent company. Since there will be no impact on our operations, we will continue business as usual and offer our customers the high-quality services and solutions they know.”
From both the financial and market share perspectives, IFCO is a strong business and a global leader in RPCs with a large addressable market and clear opportunities to capitalize on growth in the sector. In financial year 2018, IFCO generated revenues of more than US$1.1 billion and achieved a strong growth of 8 percent.
For more information, please contact:
IFCO:
Daniela Carbone
VP - Global Marketing
Additional information
About IFCO SYSTEMS
IFCO is the leading global provider of reusable packaging solutions for fresh foods, serving customers in 50+ countries. IFCO operates a pool of over 290 million Reusable Plastic Containers (RPCs) globally, which are used for over 1.6 billion shipments of fresh fruits and vegetables, meat, poultry, seafood, eggs, bread, and other items from suppliers to grocery retailers every year. IFCO RPCs ensure a better fresh food supply chain by protecting freshness and quality and lowering costs, food waste and environmental impact compared to single-use packaging. More: www.ifco.com.
About Triton
Since its establishment in 1997, Triton has sponsored nine funds, focusing on businesses in the industrial, business services, consumer and health sectors. The Triton funds invest in and support the positive development of medium-sized businesses headquartered in Europe. Triton seeks to contribute to the building of better businesses for the longer term. Triton and its executives wish to be agents of positive change towards sustainable operational improvements and growth. The 37 companies currently in Triton's portfolio have combined sales of around €13 billion and around 84,000 employees. For more information: www.triton-partners.com
About Abu Dhabi Investment Authority
Abu Dhabi Investment Authority, established in 1976, is a globally-diversified investment institution that prudently invests funds on behalf of the Government of Abu Dhabi through a strategy focused on long-term value creation. ADIA has invested in private equity since 1989 and has built a significant internal team of specialists with experience across asset products, geographies and sectors. Through its extensive relationships across the industry, the Private Equities Department invests in private equity and credit products globally. Its philosophy is to build long-term, collaborative relationships with its partners and company management teams to maximize value and support the implementation of agreed strategies.
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