Ifco acquisition has been finalized
Ifco Systems, a global provider of reusable packaging solutions for fresh foods, announced that the acquisition by Triton and Abu Dhabi Investment Authority (ADIA) has been finalized last week. The two investment companies reportedly acquired Ifco for an enterprise value of 2.51 billion US-dollars. This is said to make Ifco a fully independent company, able to act agile and flexibly and to offer efficient and sustainable fresh foods packaging solutions.
290 million RPCs
Brambles, the former parent company, acquired the company in March 2011. Since then, the provider reportedly has grown to be a global market leader for reusable plastic containers (RPCs) for fresh foods. Today, the company is said to have 32 subsidiaries around the world, which reportedly serve more than 320 retailers and over 14,000 producers in over 50 countries. The company, by its own account, 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.
Revenues of 1.1 billion US-dollars
Wolfgang Orgeldinger remains CEO. He said: „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 financial year 2018, the company reportedly generated revenues of more than 1.1 billion US-dollars and achieved a growth of 8 percent.