NEW YORK (Reuters) – Private equity firm Kohlberg Kravis Roberts & Co. said on Wednesday that a partnership deal to make three of its portfolio companies more environmentally friendly had saved $16.4 million.
The partnership, started in May with the nonprofit organization Environmental Defense Fund, reduced fuel and emission costs at food distributor U.S. Foodservice Inc, publisher Primedia Inc and bedmaker Sealy Corp, KKR said.
KKR said the plan would soon be implemented at four more of its portfolio holdings: medical device companies Accellent and Biomet, retailer Dollar General and hospital operator HCA.
KKR said that through the partnership, U.S. Foodservice saved $8.2 million in fuel costs; Primedia saved $2.9 million in material costs, and Sealy saved $1.2 million in fuel costs and more than $4 million in material costs.
In total, 25,000 metric tons of greenhouse gas emissions were saved last year from the deal, it said. (Reporting by Megan Davies; Editing by Lisa Von Ahn)