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KKR to Acquire Singapore's Goodpack Ltd for US$1.1 Billion
May 2014

Goodpack Limited ("Goodpack" or "the Company"), on 27 May 2014 announced the proposed 100% acquisition of Goodpack by an affiliate of KKR via a scheme of arrangement, valuing the Company at S$1.4 billion (US$1.1 billion).  The offer price of S$2.50 per share represents a premium of 31.3% to Goodpack's 1-month VWAP to 18 March 2014, being the day prior to an announcement by Goodpack in respect of a possible transaction.

Mr David Lam, Executive Chairman of Goodpack, said,
"We are delighted to receive KKR's proposal to acquire the Company by way of a scheme of arrangement.  The consideration price of S$2.50 per share provides an opportunity for Goodpack Shareholders to realise their investment in Goodpack Shares for cash at a significant premium to the historical trading prices of the Company's shares."

Mr Ming Lu, Member of KKR and Head of KKR Southeast Asia, added,
"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."

OWW, an early investor in Goodpack prior to its listing, completed its exit in 2009 (OWW Investment Quarterly - 2Q10).  Bien-Chuan Tan, Managing Director of OWW, continued to serve as director of the Company, said,
"We are pleased that David Lam and his team will be collaborating with KKR to embark on the next phase of the Company's growth.  It has been a privilege to be associated with Goodpack during the last 15 years where annual revenue grew from US$20M to over US$200M and enterprise value increased from US$80M to US$1.1 billion"


Founded in 1980 and listed on the Main Board of the SGX-ST in 2000,
Goodpack is the world's largest provider of multi-modal, reusable metal box systems known as intermediate bulk containers (IBC).  With a fleet of 3.2 million IBCs spread across over 5,000 delivery and collection points worldwide, Goodpack is committed to growing partnerships by providing sustainable, reliable and cost-effective packing solutions to global customers in the rubber, chemical, automotive and food processing sectors.  Goodpack containers are currently used in more than 70 countries; they can be hired locally and dehired globally through a dedicated customer management system with RFID online tracking and local customer support.


KKR is a leading global investment firm that manages investments across multiple asset classes including private equity, energy, infrastructure, real estate, credit and hedge funds.  KKR aims to generate attractive investment returns by following a patient and disciplined investment approach, employing world-class people, and driving growth and value creation at the asset level.  KKR invests its own capital alongside its partners' capital and brings opportunities to others through its capital markets business. References to KKR's investments may include the activities of its sponsored funds. KKR & Co. L.P. is publicly traded on the New York Stock Exchange (
KKR) and "KKR", as used in this release, includes its subsidiaries, their managed investment funds and accounts, and/or their affiliated investment vehicles, as appropriate.  For additional information, please visit KKR's website at www.kkr.com.




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