Goldman Sachs Asset Management’s alternative investments platform, Goldman Sachs Alternatives, announced an agreement to acquire food supply chain-focused reusable plastic packaging and performance pooling solutions provider Tosca from private equity investor Apax Partners.

Founded in 1959 and acquired by funds advised by Apax in 2017, Atlanta-based Tosca provides reusable asset pooling solutions designed to allow food producers, distributors and retailers across North America and Europe to eliminate food, labor, and transportation waste and improve performance.

The company provides a “pooling system” of Reusable Plastic Containers (RPCs), pallets, and bulk bins that help companies move their products through the supply chain more efficiently, safely, and sustainably. According to Tosca, the supply chain pooling system enables businesses share to a pool of reusable assets, with Tosca managing the process, including delivery, collection, sanitation, and tracking, to create a circular system that is more efficient, sustainable, and cost-effective than buying and managing their own packaging.

Cedric Lucas, Partner within Infrastructure at Goldman Sachs Alternatives, said:

“Tosca sits at the intersection of several powerful trends, including increased automation in food supply chains, growing demand for circular economy solutions, and the broader adoption of reusable asset pooling. Its large asset base, integrated service network and best-in-class customer retention underpin its role as essential infrastructure within the food supply chain.”

Goldman Sachs said that it intends to support Tosca’s continued growth through investment in its asset base, operational platform, technology capabilities and customer offering, alongside the company’s management team.

Tosca CEO Eric Frank said:

“This announcement marks an exciting milestone for Tosca. We are grateful for Apax’s partnership and support over the last several years and look forward to working with Infrastructure at Goldman Sachs Alternatives as we continue to execute on our strategy. Their long-term investment approach and experience scaling asset-based businesses makes them an excellent partner for the next phase of our growth.”

The transaction is expected to close in 2026.