South Africa-based produce grower Capespan Group is increasing its reach in Europe through the acquisition of a 25% stake in Germany’s Fruchtimport vanWylick.
The deal will provide Capespan with access to Fruchtimport vanWylick’s distribution and value-added services in Germany and neighbouring countries. It will also “intensify brand exposure” and “drive mutual synergies in logistics and service provision”, Capespan said.
Gerald Müller, the managing director of Capespan’s Belgium-based local unit, Capespan Continent, the acquisition is a strategic move to accelerate growth in the “extremely important” German market. Müller added: “It’s also a reaffirmation of our global strategy to grow our business with strategic acquisitions in production, distribution and service entities, thus offering customers a wider and more cost-efficient service solution.”
For its part, Fruchtimport vanWylick COO Jens Allerding said the German fruit distributor will increase its access to “strategic products” through the tie-up.
Financial details of the transaction were not disclosed. The deal remains subject to regulatory approval.