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AgroFresh acquires Tessara to expand post-harvest solutions portfolio

AgroFresh Solutions Inc., an AgTech innovator in post-harvest produce freshness solutions, announced the acquisition of Tessara, a post-harvest solutions provider, from global investment firm Carlyle, who acquired majority ownership of Tessara in 2018.

The acquisition expands AgroFresh’s footprint in food waste reduction and freshness solutions for table grapes and berries and bolsters the organization’s impact in growing regions in South Africa, China, Australia, and South America.

Clinton Lewis, CEO at AgroFresh: “Completing this transaction with Tessara creates significant opportunities for AgroFresh to build upon our diversification strategy and further support our customers in their efforts to grow and distribute an abundant supply of sustainable fresh produce around the world. The acquisition is a perfect fit given Tessara’s and AgroFresh’s alignment on leveraging science-based solutions to advance freshness across the global produce industry and we look forward to bringing the innovative team at Tessara onboard.”

Established in 1988 in South Africa, Tessara has since grown to become a leader in post-harvest preservation solutions, which it provides to fresh produce growers worldwide. The company is a leading provider of SO2 solutions for table grapes, berries, and flowers, protecting more than $3 billion worth of fresh produce annually in more than 30 countries.

Jaco Smit, CEO of Tessara: “We are proud of the Tessara team and our distinctly South African roots and culture. We are also humbled and excited to be part of AgroFresh, the leader in the post-harvest AgTech space and, together, we will leverage our combined network and innovation resources to build a world-class market leader.”

Rabobank advised Carlyle as the exclusive financial advisor on the transaction. Serving as legal advisers for the transaction for AgroFresh were Morrison & Foerster and Bowman Gilfillan. The transaction remains subject to clearance by the South Africa competition authorities.

For more information:
AgroFresh
www.agrofresh.com

Tessara
www.tessara.co.za

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