Tokyo (Japan) / Pullach (Germany), 1 March 2022 – IFCO, a Triton Fund V portfolio company and a world leading provider of Reusable Packaging Containers (RPCs) for fresh grocery products, today announced the acquisition completion of the RPC pooling services business of Sanko Lease, via its wholly-owned subsidiary IFCO Japan. The acquired business will be transferred to IFCO Japan and succeeded by IFCO Oricon Co., Ltd, which will start operations effective March 1, 2022. Through the acquisition of the business, IFCO Japan will become the leading provider of Reusable Packaging Containers (RPCs) for fresh grocery products in Japan further promoting sustainability and its business model based on the principle of circular economy. At the same time it will signficantly increase its pooling asset base and service center network.
Customers will benefit from the combined global and local experience and resources of IFCO and Sanko Lease. In addition to offering nationwide coverage, more service centers and a broader product and service portfolio, the increased business scale will allow IFCO Oricon to develop and implement solutions to reduce lead-times, improve RPC availability as well as streamline ordering and invoicing systems. Improvements in reverse logistics and transportation efficiency will provide additional benefits and allow customers to reduce the environmental impact of their operations.
Michael Pooley, CEO of IFCO Group, said: "We are delighted about this strategic transaction and the long-term partnership with Sanko Group. In addition, we are excited to see how bringing these two great businesses together will help IFCO continue its mission to make the Japanese fresh grocery supply chain sustainable."
At the same time, IFCO Japan and Sanko Group have entered into a long-term strategic partnership for the Japanese market. Both companies see this cooperation as an opportunity to extend their respective market leading positions.
About IFCO
IFCO is the leading global provider of reusable packaging solutions for fresh foods, serving customers in 50+ countries. IFCO operates a pool of over 325 million Reusable Packaging Containers (RPCs) globally, which are used for over 1.9 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 Triton Partners
Founded in 1997 and owned by its partners, Triton Partners is a leading European mid-market sector-specialist investor. Triton Partners 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 Partners 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.