AgroFresh Reaches Patent Infringement Settlement with Decco Post-Harvest, Inc. and its Parent Company, UPL Limited

Rhea-AI Summary

AgroFresh Solutions (Nasdaq: AGFS) has reached a settlement in its ongoing litigation against Decco Post-Harvest and its parent company, UPL Limited. The agreement resolves all outstanding litigation, but the terms are confidential. AgroFresh, recognized for its innovative SmartFresh™ technology, aims to prevent food waste and enhance produce quality. The CEO, Jordi Ferre, expressed optimism about focusing on future developments following the settlement. AgroFresh's commitment to R&D remains strong, emphasizing its role in revolutionizing the post-harvest industry.

Positive

• Settlement reached, allowing focus on future growth.
• Ongoing commitment to R&D and innovation in the post-harvest industry.

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• None.

PHILADELPHIA, March 29, 2021 (GLOBE NEWSWIRE) -- AgroFresh Solutions, Inc. (Nasdaq: AGFS), a global leader in produce freshness solutions, today announced the Company has reached a settlement in its ongoing litigation against Decco Post-Harvest, Inc. and Decco’s parent company, UPL Limited.

The terms of the settlement agreement, pursuant to which all outstanding litigation between the parties is now settled, are confidential.

“AgroFresh transformed the post-harvest industry more than 20 years ago with the development and commercialization of SmartFresh™ Quality System 1-MCP technology. Our consistent commitment to research and development continues to drive innovation for the industry, which is the backbone of our organization. We are pleased to settle this matter as we shift our focus to the future,” said Jordi Ferre, AgroFresh CEO.

About AgroFresh
AgroFresh (Nasdaq: AGFS) is an AgTech innovator and global leader with a mission to prevent food loss/waste and conserve the planet’s resources by providing a range of science-based solutions, data-driven digital technologies and high-touch customer services. AgroFresh supports growers, packers and retailers with solutions across the food supply chain to enhance the quality and extend the shelf life of fresh produce. The AgroFresh organization has 40 years of post-harvest experience across a broad range of crops, including revolutionizing the apple industry with the SmartFresh™ Quality System for more than 20 years. This is powered by a comprehensive portfolio that includes plant-based coatings, equipment and proprietary solutions that help improve the freshness supply chain from harvest to the home. Visit agrofresh.com to learn more.

Contact:

For AgroFresh Solutions, Inc.
ICR Inc.

Jeff Sonnek - Investor Relations
Jeff.Sonnek@icrinc.com
646-277-1263

Cory Ziskind – Media Relations
Cory.Ziskind@icrinc.com
646-277-1232

FAQ

What was the settlement announced by AgroFresh Solutions on March 29, 2021?

AgroFresh Solutions announced a settlement in its litigation against Decco Post-Harvest and UPL Limited, resolving all outstanding litigation between the parties.

How does AgroFresh Solutions impact the post-harvest industry?

AgroFresh Solutions is known for its SmartFresh™ technology, which revolutionizes the post-harvest industry by extending the shelf life of fresh produce.

What is AgroFresh's commitment following the litigation settlement?

AgroFresh is committed to focusing on research, development, and innovation to enhance produce quality and reduce food waste.

What technology does AgroFresh Solutions offer for produce freshness?

AgroFresh offers the SmartFresh™ Quality System and a range of science-based solutions to improve the freshness supply chain.