Okanagan Specialty Fruits Inc. (OSF) announces the acquisition of OSF by TS Biotechnology Holdings, LLC, an affiliate of Third Security, LLC. OSF is the pioneering agricultural company behind the development and commercialization of the non-browning Arctic® apple. Third Security is a venture capital firm led by Randal J. Kirk. The transaction closed on January 31, 2020. Intrexon issued a press release on January 2, 2020 announcing its intention to sell certain non-healthcare assets, including OSF, after stating early last year that it would intensify its focus on the healthcare industry.
OSF is a vertically integrated apple growing and marketing company that is grower-founded and grower-led. The company’s non-browning Arctic apple delivers fresh sliced apples with orchard-fresh flavor. OSF offers foodservice operators, retailers and consumers a fresh sliced apple that requires less prep, produces less waste and delivers better taste. The technology behind Arctic apples provides a sustainable solution that affords a better eating experience, benefiting everyone in the produce supply chain. As an alternative to costly chemical solutions that rob flavor, Arctic apples solve both cost per serving and quality concerns associated with pre-cut apples while also providing an extended shelf-life that minimizes waste.
“R.J. Kirk is a powerful champion of our Arctic apples and we are thrilled to continue our partnership with him at Third Security,” said Neal Carter, Founder of Okanagan Specialty Fruits. “Collaboration with Third Security will facilitate our continued success as we further expand into retail and food service, enhancing our ability to deliver more apples in more places.”
“The success of OSF’s Arctic apple is ground-breaking for the produce industry and for bioengineering science,” remarked Kirk, founder and CEO of Third Security. “We are excited to add OSF’s innovation and passion to our portfolio.”
OSF remains focused on expanding the availability of Arctic apples into new marketplaces. OSF announced the introduction of its fresh apple slices into food service last fall.
For more information:
Angela Tipton
Okanagan Specialty Fruits Contact:
Tel: (509) 505-5432
Julian Kirk
Third Security
Tel: (540) 633-7900
julian.kirk@thirdsecurity.com