KKR completes acquisition of Singapore firm Goodpack

SINGAPORE - IBC Capital, a unit of global investment firm KKR, has completed the acquisition of bulk container maker Goodpack.

As part of the acquisition, Goodpack was delisted from the Singapore Exchange on Monday, said the company on Tuesday.

Goodpack executive chairman David Lam said: "This partnership with KKR will be transformational. We envision that together we will be able to deliver greater value to existing customers, and also expand into new customer segments."

Goodpack noted that the partnership will accelerate its growth. For instance, Goodpack's management team will be able to use KKR's global network to increase sales in existing markets, and enter new ones.

The Singapore company will also be able to tap on KKR Capstone - an independent team that works exclusively with KKR - to identify opportunities to unlock and create greater value.

Goodpack's intermediate bulk containers, known as IBCs, are made of high tensile steel that can be reused multiple times, over 10 or more years.

There are more than 3.3 million IBCs in circulation across 70 countries, with more than 5,000 delivery and collection points.

Mr Ming Lu, KKR's co-head of Asia private equity, said: "We look forward to working with Goodpack's experienced management team and believe that, in partnership, we will strengthen the Company's position as a leader in the logistics solutions space."