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.
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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.
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