ADIA Subsidiary Divests 50% Stake in IFCO to Stonepeak
Deal News | Jul 10, 2025 | Zawya
A subsidiary of the Abu Dhabi Investment Authority (ADIA) is set to sell its 50% co-controlling stake in German food packaging company IFCO to Stonepeak, a US investment firm. The financial specifics of the transaction remain undisclosed, but European mid-market investor Triton retains its 50% stake in IFCO. ADIA's involvement with IFCO began in 2019 when it invested following a $2.5 billion carve-out from Brambles, an Australian logistics group. Established in 1992, IFCO specializes in global logistics systems utilizing over 400 million reusable packaging containers. The transaction, still subject to customary regulatory clearances, is anticipated to finalize in the fourth quarter of 2025. Various financial and legal advisors are involved, including Citi for Stonepeak, and Bank of America and Morgan Stanley for ADIA and Triton.
Sectors
- Private Equity
- Logistics and Packaging
Geography
- United States – Stonepeak, the acquiring company, is based in the United States.
- United Arab Emirates – ADIA, the selling entity, is a sovereign wealth fund from the United Arab Emirates.
- Germany – IFCO, the target company, is a German-based firm.
Industry
- Private Equity – Stonepeak is a private equity firm undertaking the acquisition of the stake in IFCO.
- Logistics and Packaging – IFCO operates within the logistics and packaging industry, providing reusable packaging solutions.
Financials
- $2.5 billion – The amount ADIA invested in IFCO's carve-out from Brambles in 2019.
Participants
| Name | Role | Type | Description |
|---|---|---|---|
| Abu Dhabi Investment Authority (ADIA) | Vendor | Company | ADIA is a sovereign wealth fund managing investments on behalf of the government of Abu Dhabi. |
| Stonepeak | Buyer | Company | Stonepeak is a US-based private equity firm focused on infrastructure investments. |
| Triton | Co-Investor | Company | Triton is a European mid-market investment firm holding a co-controlling stake in IFCO. |
| Citi | Financial Advisor | Company | Citi is serving as the financial advisor to Stonepeak in the transaction. |
| Kirkland & Ellis | Legal Counsel | Company | Kirkland & Ellis is providing legal advisory services to Stonepeak. |
| Bank of America | Financial Advisor | Company | Bank of America is serving as a financial advisor to ADIA and Triton. |
| Morgan Stanley & Co. International PLC | Financial Advisor | Company | Morgan Stanley is serving as financial advisor to ADIA and Triton. |
| Latham & Watkins | Legal Counsel | Company | Latham & Watkins is serving as legal counsel to ADIA and Triton. |