Joy Wing Mau and Capespan form new Joy Wing Mau Asia JV
Global fruit firm Capespan has collaborated with China-based Joy Wing Mau to create the new Joy Wing Mau Asia joint venture (JV).
The two companies intend to offer their suppliers and market customers with a unique value proposition for the supply and distribution of fruits within the Asian region.
Joy Wing Mau chairman Mau Wah Liu said: “Joy Wing Mau has enjoyed a long and successful partnership with Capespan.
"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.”
Capespan has recently expanded its footprint in the Asian market through Capespan Japan and its Hong Kong-based business unit Metspan.
Joy Wing Mau has also enhanced its global supply and distribution network for Asian markets.
Joy Wing Mau is reported to have become one of the major distributors of fresh produce in the Asia.
Effective from next month, the new JV will be absorbing Metspan and Capespan Japan, as well as Joy Wing Mau’s Asian business into the newly formed JV.
The new partnership will enable Capespan’s suppliers to access entire Asian market, as well as gain support by Joy Wing Mau’s distribution, service infrastructure and experience.
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.”
Liu and Fuchs explained that ‘it will be business as usual’ for both the companies' suppliers and customers.
Capespan entities based at source will continue with their usual fruit purchasing activities from their suppliers for the Asian region, but these fruit products will be managed and distributed by Joy Wing Mau Asia, which also has a presence at source.
The deal will provide suppliers an option to deliver fruits directly to Joy Wing Mau Asia or through Capespan, depending upon their convenience.
Countries such as India and Bangladesh have been excluded from the JV as Capespan’s has set up formal relationships in these two countries.
Image: Joy Wing Mau and Capespan for a joint venture called Joy Wing Mau Asia. Photo: courtesy of Capespan.