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Capespan acquired a share in Golden Wing Mau
China
Tuesday 14 September 2010
FJ
Capespan acquired 25 % of Golden Wing Mau, the most important Chinese distributor of fresh fruit and vegetables.
In Capespan's second strategic step of leveraging its various business dimensions and expanding in the lucrative Far East markets, the group has acquired a 25% stake in Golden Wing Mau, a dynamic Chinese fruit trading and distribution organisation.
Announcing the deal, Capespan acting managing director Louis Kriel said, "With this deal Capespan can now fulfil its growth aspirations for China. This succeeds the acquisition in July of the remaining 50% share in Hong Kong-based Metspan, the Capespan Group's Far East marketing arm."
The Golden Wing Mau Group (GWMG) established itself on mainland China in the late 1990s and focuses on fruit production, packing, storage, wholesale, export, import and distribution to retailers. Run by visionary CEO Mau-Wah Liu, the company developed supply relationships with some of the leading retailers who set up in the Chinese market. In addition, the company also exports to more than 30 countries globally.
The fast-growing and strong Chinese economy has resulted in improved living conditions, increased disposable income, fruit consumption growth and a great platform for fruit business development. Kriel continued, "By enlarging our Far East footprint, Capespan's opportunities lie in: exporting and distributing South African-sourced produce into mainland China; procuring and exporting Chinese produce into the Capespan global marketing and distribution network; exporting globally procured product into China; and packing, adding value, as well as distributing both domestic and imported product in China to the emerging retail sector. It's noteworthy that supermarkets are set to become the main fruit and vegetable sales channel in China in the foreseeable future.
"Capespan is proud to be associated with the vibrant Golden Wing Mau Group and we'll continue strengthening and expanding our fruit expertise in the growing Chinese market."
Said GWMG CEO Mau-Wah Liu, "Capespan is a trusted, established, global fruit expert with strong, recognised brands. As such, it's the perfect partner for Golden Wing Mau and the two companies will be developing its synergies further in years to come."
Source : Capespan
