Stonepeak to Acquire a Co-Control Stake in IFCO from ADIA

Business Wire

09-07-2025

MUNICH & NEW YORK & PULLACH, Germany--(BUSINESS WIRE)--Stonepeak, a leading alternative investment firm specializing in infrastructure and real assets, today announced that it has entered into a definitive agreement under which Stonepeak will acquire an ~50% co-controlling stake in IFCO Group ('IFCO' or 'the Company'), a leading global provider of reusable packaging solutions for fresh foods, from a wholly-owned subsidiary of the Abu Dhabi Investment Authority ('ADIA'). Triton, a leading European mid-market sector-specialist investor and existing investor in IFCO, will remain a committed partner to the Company. Together, Stonepeak and Triton will have joint and equal ownership and governance of IFCO.
Founded in 1992, IFCO today manages a global logistics system that utilizes over 400 million reusable packaging containers ('RPCs') to enable more than 2.5 billion annual shipments of fresh fruits, vegetables, and other perishables from producers to retailers through a closed-loop, circular supply chain. The Company operates a network of approximately 140 service centers to wash and repair RPCs between trips. IFCO's reusable solutions offer clear advantages over single-use packaging, providing cost, sustainability, and automation benefits to leading food retailers and producers. With a team of approximately 2,000 employees, the Company runs a global operation serving over 300 retailers and 18,000 growers in more than 50 countries.
'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. Stonepeak's expertise in critical infrastructure and proven investment strategy paired with Triton's long years of sector experience and focus on digitalisation and sustainability will contribute largely to IFCO's further growth, strengthening our market leading position globally,' commented Michael Pooley, Chief Executive Officer of IFCO.
'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,' said Nikolaus Woloszczuk, Senior Managing Director at Stonepeak. 'Its leadership position is underpinned by its network and scale, which deliver cost and sustainability advantages over single-use cardboard for retailers and growers. We believe the Company's high-quality, market-leading platform has meaningful embedded and adjacent growth opportunities, and we are excited to partner with Triton and the IFCO team to accelerate this next chapter of growth at IFCO. With IFCO's strong and growing presence in North America, the Company fits squarely within our infrastructure investment strategy for the region.'
'We thank ADIA for its support of IFCO and the trustful collaboration with Triton over the last six years and are looking forward to continuing our investment journey with Stonepeak. Together we share the same ambition to create value for our investors and portfolio companies. IFCO is at the core of Triton's Business Services investment strategy, where we have many years of experience and in-depth sector know-how. We thank the IFCO management team and all employees for the great journey and their excellent contribution so far and will remain a committed investor as we are very excited about the Company prospects,' adds Stephan Förschle, Partner and Co-Head of Business Services at Triton.
Hamad Shahwan Aldhaheri, Executive Director of the Private Equities Department at ADIA, said, 'ADIA invested alongside Triton in IFCO's carve-out from Brambles in 2019. Since then, IFCO has built solid foundations for the future, based on strong operational performance and enhanced digital capabilities, and is well positioned for growth. We wish the Company, Triton, and Stonepeak continued success in the years ahead.'
The transaction is subject to customary regulatory approvals and is expected to be completed in the fourth quarter of 2025.
Citi is serving as financial advisor and Kirkland & Ellis is serving as legal counsel to Stonepeak. Bank of America and Morgan Stanley & Co. International PLC are serving as financial advisors and Latham & Watkins as legal counsel to ADIA and Triton. Freshfields Bruckhaus Deringer is serving as legal counsel to ADIA.
About IFCO
IFCO is a leading global provider of reusable packaging solutions for fresh foods, empowering customers to participate in the circular economy in 50+ countries. IFCO operates a pool of over 400 million reusable packaging containers (RPCs) globally, which are used for over 2.5 billion shipments of fresh fruits and vegetables, meat, poultry, seafood, eggs, bread, and other items from suppliers to grocery retailers every year. IFCO RPCs ensure a better fresh food supply chain by protecting freshness and quality and lowering costs, food waste and environmental impact compared to single-use packaging.
About Stonepeak
Stonepeak is a leading alternative investment firm specializing in infrastructure and real assets with approximately $73 billion of assets under management. Through its investment in defensive, hard-asset businesses globally, Stonepeak aims to create value for its investors and portfolio companies, with a focus on downside protection and strong risk-adjusted returns. Stonepeak, as sponsor of private equity and credit investment vehicles, provides capital, operational support, and committed partnership to grow investments in its target sectors, which include transport and logistics, digital infrastructure, energy and energy transition, and real estate. Stonepeak is headquartered in New York with offices in Houston, Washington, D.C., London, Hong Kong, Seoul, Singapore, Sydney, Tokyo, Abu Dhabi, and Riyadh. For more information, please visit www.stonepeak.com.
About Triton
Founded in 1997 and owned by its partners, Triton is a leading European mid-market sector-specialist investor. Triton focuses on investing in businesses that provide mission critical goods and services in its three core sectors of Business Services, Industrial Tech, and Healthcare.
Triton has over 150 investment professionals and value creation experts across 11 offices and invests through three complementary 'All Weather' strategies: Mid-Market Private Equity, Smaller Mid-Cap Private Equity, and Opportunistic Credit.
About ADIA
Established in 1976, the Abu Dhabi Investment Authority ('ADIA') is a globally-diversified investment institution that prudently invests funds on behalf of the Government of Abu Dhabi through a strategy focused on long-term value creation. For more information: https://www.adia.ae