STONEPEAK takes majority stake in IFCO

Stonepeak agreed on 9 July 2025 to acquire a stake of about 50% in IFCO, the global provider of reusable packaging for fresh food, from a wholly owned subsidiary of the Abu Dhabi Investment Authority (ADIA), in a deal valuing IFCO at an enterprise value of , an EV/EBITDA multiple of . Triton, which had invested alongside ADIA in IFCO's carve-out from Brambles in 2019, kept its holding, giving the two investors joint and equal ownership and governance of the company. Completion was expected in the fourth quarter of 2025, subject to regulatory approvals, and IFCO confirmed Stonepeak's arrival as co-investor in December 2025. At the time of the deal, IFCO managed a pool of more than 400 million reusable containers used for over 2.5 billion shipments a year, ran around 140 service centres and employed about 2,000 people serving more than 300 retailers and 18,000 growers in over 50 countries. Nikolaus Woloszczuk, senior managing director at Stonepeak, said IFCO's growing presence in North America made it a natural fit for the firm's infrastructure strategy in the region. The new shareholders planned to support growth in the United States, more automation and digital tracking, and a stronger supply chain network for growers, producers and retailers. ADIA ran the sale of its stake with Bank of America and Morgan Stanley, which advised ADIA and Triton, with Latham & Watkins as their legal counsel and Freshfields Bruckhaus Deringer also advising ADIA. Citi acted as financial advisor and Kirkland & Ellis as legal counsel to Stonepeak.