IFCO Systems, a global provider of reusable packaging solutions for fresh foods, has been acquired by Triton and Abu Dhabi Investment Authority.
The two investment companies finalized the acquisition May 31 for an enterprise value of $ 2.51 billion, making IFCO a fully independent company aiming to offer the industry’s most efficient and sustainable fresh foods packaging solutions.
Brambles, IFCO’s former parent company, acquired the company in 2011. Since then, IFCO has grown to be a global market leader for reusable plastic containers for fresh foods.
IFCO has 32 subsidiaries around the world, which serve more than 320 retailers and 14,000 producers in 50-plus countries. The company operates more than 75 service centers and a global pool of more than 290 million RPCs, which are used in more than 1.6 billion shipments of fresh fruits and vegetables and other items from suppliers to retailers every year.
“We are very excited about the future and very proud to say that IFCO is an independent company again,” IFCO CEO Wolfgang Orgeldinger said. “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.”
In fiscal 2018, IFCO generated revenues of more than $1.1 billion and achieved growth of 8 percent.