Atlanta-based Tosca Ltd., which provides reusable plastic containers to ship perishables to grocery stores, will acquire an international competitor that launched a Georgia presence a few years ago.
The move to buy Polymer Logistics will expand Tosca’s product offering and global reach, especially in Europe, where Polymer has a head start providing pallets and containers that adhere to local shipping regulations.
Tosca CEO Eric Frank put it this way in the Oct. 16 release announcing the deal:
The acquisition of Polymer represents a major milestone in Tosca’s growth. Polymer is a leading RPC provider, with a broad international footprint, vertically integrated manufacturing operation, and a shared focus on innovation that will allow us to significantly enhance our geographic reach and offer customers an expanded product line to better meet their needs.
Polymer has headquarters in the Netherlands, origins and factory in Israel, and aspirations globally. The company put one of its U.S. distribution centers in Dublin, Ga., in 2016, investing $4 million and pledging to hire 110 people.
Tosca has been around for six decades but has accelerated its growth plans under the ownership of London-based private-equity firm Apax Partners, which also has a Tel Aviv office. Apax will contribute the funds needed for the acquisition, though terms were not disclosed.
Tosca’s previous owner, Orchard Holdings, acquired both Tosca and the plastic container business of Atlanta-based Georgia-Pacific in 2011.
The company prides itself on helping customers reinvent their supply chains, reducing waste and improving profitability with containers that are collapsible and reusable, unlike corrugated boxes that carry most produce to market.
Tosca designs different containers based on the product, with some specifically designed to carry packaged meat to market. Dutch supermarket giant Ahold Delhaize is a customer, along with Kroger and Walmart.
Polymer’s portfolio, meanwhile, includes plastic crates that simulate a wood-grain finish, allowing stores to save time and money by introducing crates directly into the retail environment.
Tosca will spin off Polymer’s Clean-pal pallet business into a separate unit run by the company’s former CEO, Gideon Feiner.