AgroFresh acquires packaging solution company, broadening portfolio
Agtech company AgroFresh Solutions Inc. has acquired South Africa-based Tessara, a packaging solutions provider specializing in preserving fresh produce with sulfur dioxide-generating sheets to prevent decay in table grapes, berries and flowers, according to a news release.
The acquisition marks the beginning of an exciting chapter for AgroFresh — itself owned by private equity firm, Paine Schwartz Partners — as it furthers its mission to prevent food loss and waste across the produce supply chain through science-based freshness solutions, digital technologies and services for a broad range of crops.
What’s more, the acquisition of Tessara amplifies AgroFresh's capabilities in post-harvest produce freshness and food waste reduction, adding solutions for key crop segments such as table grapes and berries, according to the release. The acquisition also increases its footprint across fruit growing regions such as South Africa, China, Australia and South America, the release said.
“AgroFresh and Tessara both aspire to bring continued value to our customers globally,” AgroFresh CEO Clint Lewis said in the release. “We have a shared vision to be the global leaders in the provision of post-harvest solutions for the fresh fruit and produce industry. And what does global leadership really mean? It means that many more varieties of crops get the benefits of a solution that helps enhance freshness and quality and really supports growers and producers.”
Related news: AgroFresh reflects on two decades since launching its flagship technology
Founded in 1985 in Cape Town, South Africa, today Tessara's products have protected more than $3 billion worth of fresh produce annually in more than 30 countries, according to the release.
"Over the course of the past few decades, Tessara has grown into a global leader in the provision of SO2 solutions used for prevention of decay for a number of high-value crops,” Tessara CEO Jaco Smit said in the release. “Being part of AgroFresh gives us access to resources to support ongoing research and development, production facilities around the world, and, most importantly, a global presence. Combining our portfolio with AgroFresh's portfolio will make us a significant force in post-harvest technologies around the world.”
