India’s Yupaa Group has announced the formal merger of its Yupaa International and Yupaa Valley businesses with Capespan, forming a new company, Yupaa Fresh.
Capespan acquired a 35 per cent stake in Yupaa, a family owned business based in Mumbai, India, and one of the country's largest diversified fruit importers and distributors, in January 2016.
“This restructuring is the obvious and logical step in aligning our strategies and operations,” said director Parth Karvat.
“Fundamentally, the positive work we have been doing up to now and all our global relations with existing suppliers and customers will not change. It will be the same people, same service, same culture plus a lot of value addition and support form our strategic partner Capespan.”
Parvat added that Capespan managing director Toni Fuchs has been appointed to the board of the new company.
Yupaa markets and distributes fresh produce across India, with its distribution network active in over 32 cities and fruit sold to wholesalers and indirect dealers covering all 29 states.
