AgroFresh acquires Tessara, expands postharvest portfolio
AgroFresh Solutions Inc., a global leader in postharvest produce freshness solutions, has acquired postharvest solutions provider Tessara from global investment firm Carlyle, which 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 presence in growing regions in South Africa, China, Australia and South America, according to a news release.
“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,” AgroFresh CEO Clinton Lewis said in the release. “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 is a global provider of SO2 solutions for table grapes, berries and flowers, helping to protect 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,” Tesssara CEO Jaco Smit said. “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 pioneer in postharvest technology for more than 20 years and got its start with the commercialization of the SmartFreshTM Quality System, an industry leading post-harvest solution to maintain produce freshness and quality. The system is used in 50-plus countries across multiple crops including apples, pears, plums, kiwis, mangos, broccoli, and avocados.
The acquisition remains to subject to clearance by the South Africa competition authorities.
