LIBERTYVILLE, Illinois, March 27, 2024 – Sumitomo Chemical Co., Ltd. and Valent BioSciences LLC announced today that Pace International LLC (Pace) and its operations overseas will become part of AgroFresh Solutions, Inc., a well-established leader in the postharvest solutions space. The decision to divest the Pace International business unit is part of Sumitomo Chemical’s strategic realignment efforts. Sumitomo Chemical and Valent BioSciences also plan to develop a strategic research collaboration with AgroFresh. Under this collaboration, Sumitomo Chemical and Valent BioSciences will continue working together in developing innovative new postharvest solutions and bringing them to the market with AgroFresh’s global market access.