AgroFresh announces alliance with Del Monte Fresh Produce N.A., Inc.

AgroFresh Solutions, Inc. ("AgroFresh") (NASDAQ: AGFS), a global leader in produce freshness solutions, recently announced a collaboration agreement with Del Monte Fresh Produce N.A., Inc. ("Del Monte"), producer, marketer and distributor of high-quality fresh and fresh-cut fruit and vegetables, to bring AgroFresh's RipeLock™ Quality System to more retailers and consumers across North America.

The collaboration offers Del Monte, one of the world's leading banana distributors, direct access to RipeLock, AgroFresh's innovative technology for extending yellow life and delivering better quality bananas, inside and out. RipeLock works with the banana's natural ripening process, using a two-part system to control respiration during transport, ripening and distribution, reducing weight loss and improving the appearance and taste profile of the bananas.

"Our demonstrated success in revolutionizing the apple industry has provided more people with healthy produce year round and helps to reduce food waste," said Jordi Ferre, AgroFresh CEO. "Our latest solution for bananas promises to do the same while underscoring our overall commitment to enhancing fruit quality for both our customers and consumers alike. Partnering with a trusted company such as Del Monte is a privilege and we look forward to working together to deliver the highest quality bananas."

Research indicates that bananas are the number one planned produce purchase as well as the top supermarket impulse buy. Displaying the preferred color bananas turns shoppers into buyers. An NPD Group study showed that nearly 50 percent of consumers prefer to buy bananas that are more yellow than green. RipeLock enables partners to consistently display high-quality bananas, keeping them bright yellow and fresh longer, resulting in higher sales.

"Del Monte has always been committed to delivering fresh, premium quality bananas to our customers throughout North America. Now, with the collaboration with AgroFresh, we will have even more tools to support our customers and further improve their banana program," said Emanuel Lazopoulos, senior vice president of North America sales, marketing and product management at Del Monte.

The collaboration between AgroFresh and Del Monte supports both organizations in their commitment to explore and develop technologies to extend freshness and enhance quality of produce.

"RipeLock technology has proven to deliver better quality ripe bananas that stay fresh longer," said Narciso Vivot, retail solutions global director at AgroFresh. "While we will continue our independent efforts to expand RipeLock's presence, we're proud of this opportunity to partner with Del Monte to give more consumers the fresh and tasty yellow bananas they demand."