Private equity major KKR is exploring the possibility of restarting the sale process for Goodpack, a Singapore-based global supply chain and logistics company, in a deal that could be worth several billion dollars, according to a report by the Wall Street Journal.
The report cites unnamed sources familiar with the matter in revealing that the private equity firm is in preliminary discussions with advisers about selling Goodpack, and if there is sufficient market interest, a formal sales process could commence in late Q3 or early Q4.
KKR acquired Goodpack, previously listed on the Singapore Stock Exchange, for over $1bn in 2014 and subsequently delisted it. A potential sale was considered in 2020 but was shelved due to the pandemic and volatile market conditions.
Founded in 1980, Goodpack claims to be the world’s first and largest provider of reusable pallet-sized intermediate bulk containers on a pay-per-use basis. These containers are used by companies to transport valuable goods globally via road, rail or sea. Goodpack’s products serve the chemical, food, automotive and rubber industries as alternatives to wooden boxes and metal drums. The company operates in over 70 countries, with a presence in South Africa, Asia, the Middle East and the Americas.
KKR, which manages $553bn in assets as of the end of 2023, has been active in deal-making, especially in Asia. The firm has invested heavily in sectors such as healthcare and data centres. Last month, KKR partnered with Singapore’s telecom company Singtel to acquire ST Telemedia’s data centers. Earlier this month, KKR announced the acquisition of a controlling stake in Baby Memorial Hospital, an Indian multi-specialty hospital network, for an undisclosed amount.
