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KKR acquires Singapore’s Goodpack for $1.11bn

28 May 2014

Singapore flag buttonPrivate equity major KKR has agreed to buy Singapore-based bulk containers maker Goodpack in a S$1.39bn ($1.11bn) take-private deal.

The deal values Goodpack at S$2.50 per share, which represents a premium of 44.7 per cent to its 12-month average price.

As part of the deal Goodpack founder David Lam will sell his 32 per cent stake in the business.

Head of KKR Southeast Asia said, “Goodpack is a best-in-class provider of packaging and logistics solutions.

“We look forward to partnering with David and his management team in realising Goodpack’s potential and accelerating its growth by leveraging KKR’s extensive relationships in new verticals and unique value creation resources, such as KKR Capstone, which works very closely with our portfolio companies to drive operational improvements.”

It was previously reported that private equity firms Blackstone and Carlyle were interested in the company.

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