Joy Wing Mau and Capespan have announced the formation of a new Asian joint venture, under the brand Joy Wing Mau Asia.
According to a joint statement, the companies have decided to join forces in order to provide their suppliers and market customers with a "unique value proposition for the supply and distribution of fruit within Asia".
With effect from April 2017, Metspan and Capespan Japan, together with Joy Wing Mau’s Asian business, will be absorbed into the Joy Wing Mau Asia joint venture.
The collaboration will present all of Capespan’s suppliers with "unparalleled access into the entire Asian market", the groups outlined, supported by Joy Wing Mau’s distribution and service infrastructure and experience.
In recent years, Capespan has extended its market access into significant parts of Asia, mainly through its Hong Kong-based business Metspan, as well as Capespan Japan.
Similarly Joy Wing Mau, has significantly expanded its global supply and distribution footprint for Asian markets. Over the last few years, Joy Wing Mau has become the single biggest distributor of fresh produce in the Asian region.
“Joy Wing Mau has enjoyed a long and successful partnership with Capespan," said Mau Wah Liu, the chairman of Joy Wing Mau. "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," Liu added. "Jointly, we can ensure that our suppliers and customers receive unparalleled solutions within the Asian markets.”
Tonie Fuchs, managing director of Capespan, concurred. “We are very excited about this new venture with Joy Wing Mau. 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 confirmed that “it will be business as usual” for both Capespan and Joy Wing Mau’s suppliers and customers. Capespan entities based at source will continue to procure fruit from their suppliers for the Asian region, but the management of that fruit will be directly with Joy Wing Mau Asia, who will manage the customer service and distribution. Where Joy Wing Mau Asia also has a presence at source, suppliers will have the choice of supplying Joy Wing Mau Asia directly or through Capespan, depending on their preferred supply models.
India and Bangladesh have been excluded from the joint venture because of Capespan’s existing formal relationships in these two countries. Capespan will continue to supply its customers in these unique market regions directly.
Capespan and Joy Wing Mau will jointly contact all stakeholders, suppliers and market customers to discuss the value proposition of the joint venture.