Alternative investment company Stonepeak has signed a definitive agreement to acquire a 50% co-controlling interest in IFCO Group, a provider of reusable packaging solutions for fresh foods.
This stake is being purchased from a wholly owned subsidiary of the Abu Dhabi Investment Authority (ADIA).
Triton, an existing shareholder and European mid-market investor, will maintain its partnership with IFCO, resulting in equal ownership and governance between Stonepeak and Triton.
Stonepeak senior managing director Nikolaus Woloszczuk said: “As the operator of the largest and most established logistics network for reusable packaging in the grocery supply chain globally, IFCO represents a critical component of the logistics infrastructure delivering fresh produce.”
IFCO, established in 1992, manages a logistics system that uses more than 400 million reusable packaging containers (RPCs) to allow over 2.5 billion annual shipments of fresh produce, meat, poultry, seafood, eggs, and bread across over 50 countries.
The company operates around 140 service centres globally to clean and repair RPCs, supporting a closed-loop, circular supply chain.
IFCO’s reusable solutions provide cost savings, sustainability benefits, and automation efficiencies for major food retailers and producers, according to Stonepeak.
With approximately 2,000 employees, IFCO serves more than 300 retailers and 18,000 growers worldwide.
IFCO CEO Michael Pooley said: “With the support of ADIA and Triton, IFCO has gone through a successful strategic and operational transformation and delivered strong growth.
“We want to thank both investors for their contribution and welcome Stonepeak as a new partner alongside Triton.”
The transaction is subject to customary regulatory approvals and is anticipated to close in the fourth quarter (Q4) of 2025.
Citi is acting as financial advisor and Kirkland & Ellis as legal counsel to Stonepeak while Bank of America and Morgan Stanley & Co. International are advising ADIA and Triton, with legal counsel from Latham & Watkins and Freshfields Bruckhaus Deringer.
In January this year, IFCO announced that its SmartCycle circular pooling system helped customers save 674,333 tonnes of carbon dioxide emissions in 2024 by replacing single-use packaging.
