PE giant KKR sells container firm Goodpack back to Lam family in US$1.4 billion deal: source

[SINGAPORE] Reusable bulk container provider Goodpack has switched hands once again, with KKR selling its stake back to the founding Lam family in a deal valuing the company at US$1.4 billion, said a source close to the transaction.

This comes after the private equity player put Goodpack up for sale in October 2024, based on media reports. That was its second attempt to sell the company, after its first in 2020.

Infrastructure investor I Squared Capital emerged as the front runner for the acquisition in July 2025, media reports indicated. Other interested parties reportedly included Brookfield Asset Management and Apollo Global Management.

Established in 1980, Goodpack is the world’s first and largest provider of reusable pallet-sized intermediate bulk containers through a leasing model. Its services are aimed at companies transporting valuable payloads globally by road, rail or sea.

KKR first acquired Goodpack in May 2014, launching a privatisation offer for the then Singapore Exchange-listed company at S$2.50 a share. This valued the company at S$1.4 billion at the time. The Lam family is believed to have retained a minority stake after the privatisation.

The buyback reflects a strong belief the business is on the cusp of a major growth phase, the source said, citing emerging opportunities amid global clients redesigning supply chains for resilience, efficiency and sustainability.

A decade under KKR control has helped Goodpack to professionalise and expand, giving it a much larger addressable market, the source added, noting that there are plans to accelerate the company’s growth through innovation, geographic expansion and deeper integration with customers.

“With control back in family hands, the focus is firmly on building a larger, more valuable global platform over the long term, rather than pursuing near-term exits, signalling that the most ambitious chapter of growth is still to come,” the source said.