Group finishes purchase of Fisher Capespan - The Packer

Group finishes purchase of Fisher Capespan

06/05/2003 12:00:00 AM
Elizabeth Ashby

(June 5) Capespan Group Holdings Ltd. of Cape Town, South Africa, purchased the remaining 50% of shares of Fisher Capespan from FBI Foods Ltd., Montreal, on June 1.

The company also named Marc Solomon, former vice president of operations, as president of Fisher Capespan. He succeeds Art Fisher, who will remain with the company as nonexecutive chairman for one year.

Three years ago, as part of a restructuring process, Capespan purchased the initial 50% of shares from FBI Foods. The purchase resulted in the new company, Fisher Capespan, which has offices in Montreal and Philadelphia.

“This is just a logical continuation of the process that was started when Capespan acquired the first 50%,” Solomon said. “We are pleased to have (Fisher’s) ongoing presence as our chairman.”

Solomon, a third-generation citrus producer from South Africa, is based in the company’s Philadelphia office. He said Capespan Group Holdings, Fisher Capespan’s parent organization, markets fresh fruit (excluding bananas) in 66 markets worldwide with facilities on all seven continents.

“Capespan (Group Holdings) is a global player. This will give us access to supplies from Capespan. We view it as an exciting step forward as consolidation takes place on the retail front. It strengthens us in the ability to supply global chains. It positions us well to supply major retailers throughout the U.S.,” Solomon said.



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