KKR’s Sale of Logistics Provider Goodpack Attracts Investors
[Stay on top of transportation news: .]
KKR & Co.’s revived attempt to potentially sell container and logistics services provider Goodpack has attracted interest from global investment firms including Apollo Global Management Inc., I Squared Capital and Stonepeak Partners, according to people familiar with the process.
Others including Brookfield Asset Management Ltd. have expressed preliminary interest, the people said, asking not to be identified because the deliberations are private. Chinese firms including China Merchants Group Ltd. could also be interested and may team up with logistics companies including China International Marine Containers (Group) Co., the people said.
A sale could value Goodpack at about $1.5 billion, the people said, adding that considerations are at an early stage and might not lead to a transaction.
Representatives for KKR, Apollo, Brookfield, I Squared and Stonepeak declined to comment, while China Merchants and CIMC didn’t immediately respond to a request seeking comment.
Want more news? Listen to today's daily briefing above or go here for more info
KKR acquired Goodpack in 2014 for about $1 billion and delisted the company. The private equity firm was exploring a possible sale as far back as 2019, prior to the COVID pandemic, Bloomberg News reported at the time.
Goodpack provides reusable pallet-sized containers to shippers for transport by road, rail or sea, according to its website. The company says it has more than 4 million containers at over 5,000 delivery and collection points worldwide.
Written by Elffie Chew, Manuel Baigorri and Dong Cao
Ìý
