Brambles sells reusable plastic container specialist to Triton and Abu Dhabi Investment Authority
Australian logistics company Brambles (Sydney; www.brambles.com) is parting with plastic container service provider Ifco Systems (Amsterdam / The Netherlands; www.ifcosystems.com). Acquiring the company with equal shares are investment firm Triton Partners (Saint Helier / Jersey; www.triton-partners.com) and a subsidiary of the Abu Dhabi Investment Authority (ADIA, Abu Dhabi / United Arab Emirates; www.adia.ae), for a purchase price of USD 2.51 bn (around EUR 2.2 bn). Regulatory approvals and other closing conditions are underway, with completion scheduled for the second quarter of 2019. Brambles purchased Ifco for just under EUR 1 bn in 2010 – see Plasteurope.com of 22.11.2010.

Ifco CEO Wolfgang Orgeldinger is expecting the acquisition to bring "greater flexibility and new growth opportunities" for the company, which claims to be the globally leading supplier of reusable plastic containers. In fiscal 2018, Ifco generated sales of around USD 1 bn, marking an 8% increase over the previous year.

The company operates a pool of more than 290m reusable plastic containers worldwide for transporting fresh produce to food retailers. This includes fruit and vegetables, meat, seafood, eggs and bread. More than 70% of business is reportedly concentrated on Europe.

06.03.2019 Plasteurope.com [241905-0]
Published on 06.03.2019
Ifco: Logistiker Brambles verkauft Mehrwegbehälter-SpezialistenGerman version of this article...

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