(Bloomberg) -- Buyout firm Triton is exploring options for its plastic container business IFCO, which could be valued at about €5 billion ($5.4 billion) in a deal, according to people familiar with the matter.
The European private equity firm could choose advisers in the coming weeks to help review exit alternatives including a partial or full sale of the business, the people said. Triton may also consider a listing of IFCO, with any deal only likely to happen next year, the people said, asking not to be identified as the matter is private.
Discussions are ongoing and Triton could still decide to keep the asset for longer, the people said. A representative for Triton declined to comment, while IFCO didn’t immediately respond to queries.
IFCO manufactures reusable containers mainly for transporting perishable products from bananas and eggs to baked goods and seafood. It’s one of the biggest such suppliers in the world, catering to more than 550 retailers in over 50 countries, its website shows.
Triton and sovereign wealth fund Abu Dhabi Investment Authority acquired the European firm in 2019 from Australian logistics provider Brambles Ltd. at a valuation of $2.5 billion including debt.
Triton’s deliberations for IFCO comes at a time when buyout activity is expected to rise on the back of stable interest rates and rekindled appetite from banks to provide financing for transactions.
Clayton Dubilier & Rice entered into exclusive talks to buy control of Sanofi’s consumer health unit, while TDR Capital and I Squared Capital are considering options to exit their ownership in Aggreko Plc, one of the world’s biggest suppliers of portable power generators.
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