New Zealand dairy firm Fonterra and Indian food-led FMCG company Future Consumer have agreed to end their dairy joint venture in India.
Fonterra is a global dairy nutrition company owned by 10,000 farmers and their families, united by a fundamental belief in the power of dairy to make a difference, while Future Consumer builds brands for India’s Fast Moving Consumer Generation.
The joint venture between both companies started in 2018 and the last two years have been challenging due to the disruption caused by COVID-19 in the Indian market.
The joint venture launched initiatives such as the Dreamery brand, a range of products produced with Indian milk, and the distribution of Fonterra’s New Zealand Anchor Food Professionals products in the foodservice sector, generating positive feedback among the consumers.
Source: Future Consumer