ADIA exits IFCO as Stonepeak joins Triton in reusable packaging venture

UAE – The Abu Dhabi Investment Authority (ADIA) has agreed to sell its approximately 50% stake in IFCO Group to Stonepeak, an alternative investment firm specializing in infrastructure.

This transaction will make Stonepeak a joint owner with Triton, the existing partner, fostering continued growth in reusable packaging solutions.

IFCO, a global leader in reusable packaging containers (RPCs) for fresh foods, operates one of the largest networks worldwide.

 According to company data, it manages over 400 million RPCs, facilitating more than 2.5 billion shipments annually of fruits, vegetables, and perishables. 

Its closed-loop system promotes circular logistics, reducing reliance on single-use materials and enhancing supply chain efficiency across over 50 countries.

The deal stems from IFCO’s 2019 carve-out from Brambles, when ADIA and Triton jointly acquired it. 

Since then, the company has invested in operational improvements and digital integration to support sustainable practices.

In a statement, Hamad Shahwan Aldhaheri, Executive Director of the Private Equities Department at ADIA, remarked: “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.”

Nikolaus Woloszczuk, Senior Managing Director at Stonepeak, expressed strong enthusiasm about the partnership.

“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,” he said.

He emphasized that IFCO’s leadership position is secured by its vast network and scale. This gives the company clear cost and sustainability advantages compared to single-use cardboard for retailers and growers.

Woloszczuk further noted that IFCO’s platform is both high-quality and market-leading, with significant opportunities for growth already embedded in its business model.

“We believe the company has meaningful adjacent growth opportunities, and we are excited to partner with Triton and the IFCO team to accelerate this next chapter of growth at IFCO,” he added.

Stephan Förschle, Partner and Co-Head of Business Services at Triton, added: “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.”

In addition, Michael Pooley, Chief Executive Officer of IFCO, stated that with the support of ADIA and Triton, IFCO has gone through a successful strategic and operational transformation and delivered strong growth. 

“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.”

The transaction, pending regulatory approvals, is slated for completion in the fourth quarter of 2025. 

As an update, IFCO recently completed a US$3.08 billion refinancing package, including a US$2.64 billion term loan and a US$440 million revolving credit facility, to support the ownership transition and future expansions in sustainable logistics.

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