FOOD & BEVERAGES: Tree Shaking At Capespan
Recent Western Cape Business News
JOHANN Dique, the new MD of Capespan, appears to be getting to grips with the Bellville-based fruit exporting and logistics company with several operational tweaks being instituted recently.
Dique joined Cape-span last year after a highly successful decade-long tenure at Senwes, which has now become a pace setting agri-business.
The first ‘tweak’ appeared to be a bit of house-keeping when late last year Capespan sold its ExperiCo division as a going concern to Farmsecure Agri Science.
If anything the deal might fuel speculation that Capespan will be paying a good deal more attention to its logistical services in the years ahead.
ExperiCo Fruit Technology Solutions specialises in commercial quality maintenance research on harvesting, packaging and storing of fruit. It also commercialises innovative fruit-related technologies.
At the time of the transaction, Capespan executive director Dawie Ferreira said the company had taken a strategic decision to focus on its core businesses, fruit marketing and logistical services. “We realised that we didn’t need to own Experico to have access to its expertise and support, seeing that it had been providing services to all exporters. Capespan will still have access to ExperiCo’s know-how in much the same way as has been the case over the last few years.”
Ferreira also noted that as a customer-driven fruit marketing entity, Capespan was expanding its presence in global fruit markets and providing customers with the desired product all year round. “Our logistical business focuses on utilising our capabilities in port and inland terminals to deliver integrated logistical solutions.”
The second ‘tweak’ was of a more strategic nature.
Recently Capespan announced it had concluded agreements to acquire the remaining 50% shareholding in Cape-span International Holdings Limited, a fruit marketing joint venture in the UK and Europe, from Total Produce PLC.
The interesting thing is that Total Produce is a Dublin-based global fruit and fresh produce company that holds a strategic 20% stake in Capespan.
The transaction will be settled in cash as well as by the issue of new Capespan shares to Total Produce. In fact the proposed issue of new shares to Total Produce will push the Irish company’s stake in Capespan to 25%.
Total Produce will become the second biggest shareholder in Cape-span, behind PSG’s Zeder Investments – which will hold around 39% of Capespan if the new shares are issued to Total Produce.
Dique said the acquisition of Capespan International would allow Capespan to align its service offering directly with customer demands that will strengthen operations for future growth.
He added that Total Produce’s increased shareholding in Cape-span would enhance the strategic alliance and partnership between the two parties in the fruit industry globally.
Business News Sector Tags:
Fax 2 Email
Study IT Online
Work from Home