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Description of Business
9 Months Ended
Sep. 30, 2018
Organization, Consolidation and Presentation of Financial Statements [Abstract]  
Description of Business
Description of Business

AgroFresh Solutions, Inc. (the “Company”) is a global leader in delivering innovative food preservation and waste reduction solutions for fresh produce, including apples, pears, citrus, kiwifruit, avocados and bananas among others. The Company is empowering the food industry with Smarter FreshnessTM, a range of proprietary and innovative solutions that are designed to help growers, packers and retailers improve produce freshness and quality while reducing waste.

The Company’s solutions range from pre-harvest offerings, such as HarvistaTM and LandSpringTM, to its marquee SmartFreshTM Quality System, which includes SmartFreshTM, AdvanStoreTM and ActiMistTM, working together to maintain the quality of stored produce. The Company has a controlling interest in Tecnidex Fruit Protection, S.A.U. (“Tecnidex”), a leading provider of post-harvest fungicides, waxes, coatings and biocides for the citrus market. Additionally, the Company’s initial retail solution, RipeLockTM, optimizes banana ripening for the benefit of retailers and consumers. The recent launch of FreshCloudTM provides customers with real-time access to unique insights in the condition of their stored fruit with proprietary sensor technology and data analytics in the storage room. The Company's key products are registered in over 45 countries, support approximately 3,700 direct customers and service over 25,000 storage rooms globally.

The Company’s core business is providing produce preservation and waste reduction solutions for growers and packers. SmartFreshTM, the Company's current principal solution, preserves the texture, firmness, taste and appearance of produce during storage, transportation and retail display. It allows growers and packers to deliver “just harvested” freshness on a year-round basis and enables retailers to increase customer satisfaction with fresh, high quality produce. An integral part of the SmartFreshTM value proposition is a direct service model providing customers with on-site applications of SmartFreshTM at their storage facilities together with mission-critical and value-added advisory services.

The Company has extended its post-harvest leadership with the acquisition of Tecnidex. For over 35 years, Tecnidex has been helping fruit and vegetable producers offer clean, safe and high-quality products to customers, now reaching 18 countries. Tecnidex brought a broad catalogue of solutions that enhanced the Company's fungicide offering, ActiMistTM, an innovative delivery system of foggable fungicides. The Company's fungicide offerings further diversify its revenue by expanding the Company's ability to provide solutions and service to the citrus industry.

The end markets that the Company serves are seasonal and are generally aligned with the seasonal growing patterns of the Company’s customers. For those customers growing, harvesting or storing apples, the Company’s primary market, the peak season in the southern hemisphere is the first and second quarters of each year, while the peak season in the northern hemisphere is the third and fourth quarters of each year. Within each half-year period (i.e., January through June for the southern hemisphere, and July through December for the northern hemisphere) the apple growing season has historically occurred during both quarters. A variety of factors, including weather, may affect the timing of the growing, harvesting and storing patterns of the Company’s customers and therefore shift the consumption of the Company’s services and products between the first and second quarters primarily in the southern hemisphere or between the third and fourth quarters primarily in the northern hemisphere.

The Company was originally incorporated as Boulevard Acquisition Corp. (“Boulevard”), a blank check company, in Delaware on October 24, 2013, and was formed for the purpose of effecting a merger, capital stock exchange, asset acquisition, stock purchase, reorganization or similar business combination. On July 31, 2015, the Company completed a Business Combination (refer to Note 3) and changed its name to AgroFresh Solutions, Inc. Prior to consummation of the Business Combination, the Company’s efforts were limited to organizational activities, its initial public offering and related financings, and the search for suitable business acquisition transactions.