Medium angle of vegetables in plastic crates at a supermarket.
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Latham & Watkins Advises IFCO on €2.8 Billion Refinancing

August 8, 2025
Cross-practice team represents global leader in reusable packaging solutions for fresh foods in the transaction.

Following Latham & Watkins LLP advising Triton on Stonepeak’s acquisition of a co-control stake in IFCO, Latham has now advised IFCO on a €2.8 billion refinancing. IFCO is a global leader in reusable packaging solutions for fresh foods and a portfolio company of Triton, a leading European mid-market sector-specialist investor. As the acquisition of a co-control stake in IFCO Group by Stonepeak, a leading alternative investment firm specializing in infrastructure and real assets, is expected to be completed in the fourth quarter of 2025, subject to customary regulatory approvals being obtained, the refinancing will correspondingly also close in the coming months. Upon the acquisition being closed, Triton’s current co-investor in the IFCO Group, a wholly owned subsidiary of the Abu Dhabi Investment Authority, will exit IFCO Group while Triton will continue as a committed partner to IFCO by way of a reinvestment. The transaction included raising a €2.4 billion term loan B and a €400 million revolving credit facility for IFCO.

The Latham team was led by Frankfurt finance partner Alexandra Hagelüken and counsels Cora Grannemann and Rainer Adlhart, with associate Kate Zhu. Advice was also provided on tax matters by Munich partner Ulf Kieker and New York partner Bora Bozkurt, with associates Henning Kleymann and Joyce Shin; on US matters by Washington, D.C. partner Katherine Putnam, with associate Matt Bargamin; and on corporate matters by Frankfurt partner Leif U. Schrader, with associates Joscha Müller, Alexander Belk, and Sonja Hensch.

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