PHILADELPHIA, PA - A dynamic alliance has been formed in the post-harvest solutions industry. Global agtech innovator AgroFresh Solutions has recently bolstered its comprehensive portfolio with the acquisition of Tessara.
“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,” says Clinton Lewis, Chief Executive Officer at AgroFresh. “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.”
The post-harvest solutions provider was purchased from global investment firm Carlyle, who acquired majority ownership of Tessara in 2018. The strategic deal extends AgroFresh’s growing footprint in food waste reduction and freshness solutions in the table grape and berry sector, while also bolstering the company’s impact in South Africa, China, Australia, and South America.
Tessara was established in South Africa in 1988 and has since grown to become a leader in post-harvest preservation solutions. According to a press release, 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.
“We are proud of the Tessara team and our distinctly South African roots and culture,” notes Jaco Smit, Chief Executive Officer of Tessara. “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.”
AgroFresh has been a post-harvest technology pioneer for over two decades, with its SmartFresh™ Quality System now implemented in over 50 countries across multiple crops including apples, pears, plums, kiwis, mangos, broccoli, and avocados. The innovator’s portfolio has expanded to include plant-based coatings, antimicrobial solutions, equipment, and digital platforms that help improve quality and reduce waste across the supply chain. The transaction remains subject to clearance by the South Africa competition authorities.
For more info on the transaction, click here.
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