Capespan forms Asian joint venture with Joy Wing Mau
South Africa-based fresh fruit supplier Capespan has formed a joint venture with Chinese fruit company Joy Wing Mau to tap into the rapidly growing fruit market in the Asian region.
The joint venture (JV), named as Joy Wing Mau Asia will help Capespan in expanding its footprint in the region after its recent foray into the continent through its Hong Kong-based business Metspan and Capespan Japan.
With the joint venture, the suppliers and customers of Capespan and Joy Wing Mau will have greater access in Asia to distribute their fruit.
Capespan’s suppliers will also benefit from the robust distribution and service infrastructure of Joy Wing Mau.
Capespan managing director Tonie Fuchs said: “They are undisputed pioneers within the Asian region and we know that our joint services solution will present greater efficiencies, service levels and opportunities to our grower and market customers.
“We believe this is an innovative solution for Capespan and its suppliers in a high growth market with unique challenges and opportunities.”
Metspan and Capespan Japan along with Joy Wing Mau’s Asian business will be merged into the new JV from next month.
According to Joy Wing Mau chairman Mau Wah Liu, the Chinese fruit company had a long and successful partnership with Capespan.
Mau added: “It is an absolute natural fit for our businesses to pursue a wider cooperation within Asia by combining our infrastructures and experience towards greater access to markets for our suppliers and greater access to fruit for our market customers.
“Both Capespan and Joy Wing Mau have a loyal and reliable supplier base as well as established market presence. Jointly, we can ensure that our suppliers and customers receive unparalleled solutions within the Asian markets.”
India and Bangladesh have been omitted from the joint venture owing to the existing formal relationships that Capespan already has.
In January 2016, Capespan had bought a 35% stake in Indian fruit importer and distributor Yupaa Group. Capespan will continue with its supply in both India and Bangladesh directly.
Image: Capespan, Joy Wing Mau form JV in Asia. Photo: courtesy of Capespan.