Fritz lands juicy deal

A NEW deal has just been signed up between the multi-national forwarder Fritz and British-based Eurofrut - a company that imports fruit from SA, and distributes it to supermarkets across the UK.
In this, Fritz is now managing Eurofrut's distribution chain, handling the airfreight; pick-and-pack; import and export documentation; transportation from Cape Town to the UK; and clearance through British customs.
This has come about through an agreement between Eurofrut and Fritz parent company, the New York stock exchange listed United Parcel Services (UPS).
In this, Eurofrut is now financing
its business, and moving its product, through the UPS group.
In the case of financing, the UK subsidiary - UPS Capital - is advancing Eurofrut up to 85% of the value of its invoices within one business day of issuance. This compared to the 28-35 day delay in receiving payment that is standard in the grocery-supplier industry, according to UPS management.
Fritz, meantime, offers the specialised transportation and logistics services that is a vital part of bringing fresh fruit to market, according to Chris Cox, commercial director in SA.
"It is a fresh approach to finance, brokerage and freight," he said, "with one of Europe's largest fruit importers discovering a smart way to obtain the finance and global reach that it needs."