North America Edition
Global fruit supplier Capespan has formed a venture in Turkey, the South Africa-based company's latest move in an emerging market.
Capespan will hold a 50% stake in the venture, called Mayfresh, with managing partners Nese Coruk and Metehan Aslantas taking the remaining shares.
Mayfresh will supply to, and source from, countries in the region. The business will provide Capespan growers with "direct access" to the Black Sea, Caspian and Mediterranean markets, the company said.
According to the company, the Cape and Outspan brands have a "strong market presence" in these markets and Mayfresh will concentrate on growing these brands.
Capespan will also source fruit and vegetables from these countries.
Capespan CEO Leon van Biljon said the venture was part of the group's "aggressive" expansion drive to expand as a year-round worldwide fruit supplier. Mayfresh will enable Capespan to offer "greater efficiencies in terms of costs, products and superior service," the company said.
Capespan has been growing its base through recent M&A, including deals to take ownership of Capespan be it Aspen Logistics in South Africa and Good View in Hong Kong.
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Capespan forms Turkey venture
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