2008-04-16 23:59:33 -

www.ifco-us.com - IFCO SYSTEMS today announces that it has signed an agreement on the acquisition of all of the shares of STECO Holding GmbH and its subsidiaries. STECO is one of Europe's notable service providers for reusable plastic containers (RPCs). In 2007 STECO generated revenues of US $66.0 million.

The completion of the acquisition is subject

to merger clearance as well as certain other closing conditions.

"The acquisition of the STECO group is a perfect strategic move for IFCO and underscores our commitment to the European RPC market and makes IFCO the market leader and driving force in the European industry. We are excited about the STECO organization and welcome them to the IFCO group. Both organizations will enhance synergies to the benefit of our customers," said Karl Pohler, Chief Executive Officer, IFCO SYSTEMS N.V.

"Becoming a part of the IFCO group will encourage the STECO team to continue investing in and adding customer value. As part of the IFCO organization we will make use of complementary strategies in front and back office functions to further increase service levels to even more cope with increasing customer demand," said Wolfgang Putzinger, Chief Executive Officer of STECO.

The acquisition will be funded by IFCO's own cash resources and a sellers note.

IFCO SYSTEMS is listed on the Frankfurt stock exchange and is indirectly majority owned by funds advised by Apax Partners Worldwide LLP. IFCO SYSTEMS is an international logistics service provider with more than 180 locations worldwide. IFCO SYSTEMS operates a pool of more than 85 million Reusable Plastic Containers (RPCs) globally, which are used primarily to transport fresh produce from producers to leading grocery retailers. In the United States, IFCO SYSTEMS also provides a national network of pallet management services. With more than 100 million pallets sorted, repaired and recycled annually, IFCO SYSTEMS is the market leader in this industry. In 2007, IFCO SYSTEMS generated revenues of US $692.5 million.

IFCO SYSTEMS
Chief Financial Officer
Michael W. Nimtsch, 089.74491.121
Zugspitzstr. 7
82049 Pullach
Michael.nimtsch@ifco.de