Brambles finalizes sale of reusable packaging company IFCO
IFCO Systems, a provider of reusable packaging solutions for fresh foods, has announced that its acquisition by Triton and Abu Dhabi Investment Authority (ADIA) was finalized on May 31, 2019. The two investment companies acquired IFCO for an enterprise value of $2.51 billion. This makes IFCO a fully independent company.
Brambles, the former parent company of IFCO, acquired it in March 2011. Since then, IFCO has grown to be a global market leader for reusable plastic containers (RPCs) for fresh foods. IFCO now 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.