The Capespan Group has bought a 25% stake in German fresh produce importer Fruchtimport vanWylick GmbH.
Effective Jan. 1, the partnership gives Düsseldorf-based vanWylick and Capespan the ability to expand service and product offerings, according to a news release from Capespan.
The transaction remains subject to merger control clearance, according to the news release.
Capespan purchased a stake in Hong Kong-based Good View Group late last year.
Capespan complements the European expertise of vanWylick with its portfolio of globally-procured citrus, pome, stone fruit and grapes, according to the release.
“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,” Gerald Müller, managing director of Capespan Continent N.V., said in the release.
The acquisition of 25% in vanWylick is a strategic move for Capespan to accelerate growth in the German market, he said in the release.
Jens Allerding, vanWylick’s chief operating officer, said in the release that Capespan’s network of supply in the southern hemisphere will improve its access to new products.