PHILADELPHIA--(BUSINESS WIRE)--AgroFresh Solutions, Inc. (NASDAQ: AGFS), a global leader in produce freshness solutions, today announced that it had closed its previously announced agreement to acquire a controlling interest in Tecnidex, a leading provider of post-harvest fungicides, waxes and biocides for the citrus market. The transaction is immediately accretive and expands AgroFresh’s industry-leading post-harvest presence into new crops, and also increases its penetration of the produce market in Latin America, southern Europe, and Africa.
Jordi Ferre, Chief Executive Officer of AgroFresh, said, “With its 37-year record of success primarily in the Mediterranean citrus market, Tecnidex accelerates our crop diversification strategy, reduces our seasonality and immediately adds to our earnings. In addition, the company brings a strong portfolio of fungicides, waxes and sanitizers to AgroFresh that further diversifies and broadens our product portfolio. Like AgroFresh, Tecnidex has a long legacy of innovation through research and development, and we expect our combined expertise to yield exciting new technical advances. We are very excited that Tecnidex will be joining AgroFresh, the first of what we expect to be an active acquisition program as part of our overall growth strategy.”
AgroFresh: advancing the future of freshness.
About AgroFresh
AgroFresh Solutions, Inc. (NASDAQ: AGFS) is a global industry leader in providing innovative data-driven specialty solutions aimed at enabling growers and packers of fresh produce to preserve and enhance the freshness, quality and value of fresh produce and to maximize the percentage of produce supplied to the market relative to the amount of produce grown. Its flagship product is the SmartFresh™ Quality System, a freshness protection technology proven to maintain firmness, texture and appearance of fruits during storage and transport. SmartFresh is currently commercialized in over 40 countries worldwide. Additionally the company has a number of different solutions and application technologies that have either been launched (Harvista, RipeLock, LandSpring) or will be launched in the future that will extend its footprint to other crops and steps of the global produce supply chain. For more information, please visit www.agrofresh.com.
