Tosca, Atlanta, is purchasing Polymer Logistics from a consortium of private investors, according to a news release. Funds advised by Apax Partners, which acquired Tosca in 2017, will commit additional capital to Tosca for the acquisition, according to the release. The terms of the transaction were not disclosed.
Like Polymer Logistics, Tosca is an RPC provider, and has 14 service centers in the U.S. Those centers distribute containers to fresh produce suppliers across the country, who service retailers.
Polymer Logistics’ manufacturing operations are in Israel, but the company operates in the U.S., United Kingdom and Continental Europe, according to the release. By acquiring Polymer Logistics, Tosca expands its geographic reach and offers customers “a stronger value proposition through increased network density, particularly in the U.S., and an expanded product offering,” according to the release.
“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,” Tosca CEO Eric Frank said in the release.
Tosca plans to turn Polymer Logistics’ Cleanpal reusable pallets business into a separate unit in the company, and Gordon Feiner, founder and CEO of Polymer, will be its CEO, according to the release.
“Tosca and Polymer have a shared commitment to service excellence, innovation and reducing waste throughout the supply chain,” Feiner said in the release. “I am excited about the possibilities that will be created by our combined company and am looking forward to stepping into a new leadership role at the planned Cleanpal unit.”
Polymer Logistics is exhibiting at the Produce Marketing Association's Fresh Summit expo Oct.. 18-19 in Anaheim, Calif., at booth No. 4323.