The purchase of reusable plastic container company IFCO Systems, a $2.51 billion deal, has been finalized.
Investment company Triton and Abu Dhabi Investment Authority (ADIA) purchased IFCO from Australia-based Brambles, making IFCO an independent company, “able to act agile and flexibly,” according to a news release.
The purchase was announced in February.
According to the release, IFCO’s properties include:
- Thirty-two subsidiaries across the globe, serving more than 320 retailers and more than 14,000 producers in more than 50 countries;
- Seventy-five service centers; and
- A global pool of more than 290 million RPCs.
More than 1.6 billion shipments of fresh produce, meat, poultry, seafood and eggs and other fresh food items are shipped in IFCO RPCs to retailers every year, according to the release.
IFCO CEO Wolfgang Orgeldinger remains in that position.
“IFCO is well positioned for its future as an independent company,” Orgeldinger said in the release. “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.”
IFCO had revenues of more than $1.1 billion, with growth of 8%, in financial year 2018, according to the release.