Mar 28, 2024

AgroFresh acquires Pace, expands offerings

AgroFresh Solutions Inc. has acquired Pace International LLC.

Pace was a subsidiary of Valent BioSciences and is a provider of sustainable postharvest solutions, equipment and technical services. The acquisition includes all domestic and overseas operations.

Pace manufactures and supplies edible fruit coatings, fungicides, cleaners and sanitizers, sustainable storage treatments and application equipment for fresh produce. Integrating the Pace business has enabled AgroFresh to offer a broader portfolio of technology, services and digital solutions in both the organic and conventional produce categories.

“This acquisition enables us to take another important step towards our vision — to be regarded by customers as the post-harvest partner of choice.  We are excited to bring the combined portfolios, technical expertise and services of both companies to customers,” Clint Lewis, CEO of AgroFresh, said in a news release. “Bringing together our two companies allows us to better address the complete needs of customers across a broad array of crops, markets and at every step in the fresh supply chain, ultimately helping customers produce and deliver an abundant supply of quality fresh produce, sustainably.”

AgroFresh and Valent BioSciences plan to develop a strategic collaboration to accelerate the development of innovation to address challenges in the freshness protection space. This collaboration aims to capitalize on the expertise and technology pipeline of Valent BioSciences to develop new postharvest products, services and digital solutions.

“Acquisition of the Pace business by AgroFresh will create a postharvest solutions platform that benefits customers and the food protection industry as a whole through stronger global reach, enhanced services and additional innovation capabilities,” Salman Mir, president and CEO of Valent BioSciences, said in the release. “We are excited to collaborate with AgroFresh in developing and commercializing new products, technologies and services that will address key customer challenges.”

For more information, visit agrofresh.com and paceint.com.