New Zealand-based dairy firm Fonterra has announced it has agreed to sell its global Consumer business unit and associated businesses to French peer Lactalis for an enterprise value of 3.85 billion NZD ($2.25 billion), subject to shareholder and regulatory approvals. The deal covers Fonterra’s global Consumer business (excluding Greater China), its Consumer brands, the integrated Foodservice and Ingredients operations in Oceania and Sri Lanka, and the Middle East and Africa …
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Dairy firm Fonterra and FMCG multinational Nestle have agreed to sell Dairy Partners Americas (DPA) Brazil joint venture to French dairy company Lactalis for BRL 700 million (approx. $133 million), subject to closing transaction adjustments. The sale, which has been delayed due to the pandemic related market conditions, is aligned with the co-op’s strategy of prioritising its New Zealand milk pool. Created in 2023, Fonterra holds 51% stake and Nestle …
Dairy firm Fonterra has announced the divestment of its Chilean Soprole business. According to the company’s press release, the business was sold for about CLP $591.07 billion ($638.51 million) to dairy firm Gloria Foods. The decision to sell was made in April 2022, after the company released Fronterra’s strategy to 2030. Fonterra CEO, Miles Hurrell, commented the deal: “A key pillar of our strategy is to focus on New Zealand …
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 …
New Zealand dairy firm Fonterra, has agreed to sell off its two joint-venture farms in China to Singapore-based AustAsia Investment Holdings for $115.5 million. Fonterra has a 51% stake in the business and will receive NZD88 million (US$62.3m) in total asset sale proceeds, including cash on completion. To Fonterra CEO Miles Hurrell, the sale is another important step for the Co-operative and aligns to its strategy of prioritising New Zealand …
The Australian division of New Zealand dairy firm Fonterra has announced that it has signed an agreement to purchase cheese processing firm Dairy Country from food and beverage company Retail Food Group. According to a Fonterra press release, the acquisition will support the company’s core strengths in the Australian retail cheese category, since Fonterra holds a market share of 23%, with a portfolio that includes brands such as Perfect Italiano, …
ProviCo, an Australian-based animal nutrition company, has announced the acquisition of the Dennington milk processing plant to Fonterra Australia. Described as one of the leading companies in animal nutrition in the country, ProviCo is a manufacturer of feed and vitamin fortified products for farm animals. According to sources, since the announcement of the factory closure back in May, Fonterra has been looking for a potential buyer for the Dennington factory …
Fonterra, the New Zealand based dairy giant, has announced it is to close its processing plant in Dennington, Australia due to overcapacity and constrained milk supply. The closure of the factory, which is located in the south west of the state of Victoria and currently produces “lower value” products, comes amid “significant changes, including a declining milk pool” in the Australian dairy industry, Fonterra said. Commenting on the news, Fonterra Australia …
Froneri, the ice cream joint venture of Nestle and R&R ice cream, has announced it has agreed to acquire the New Zealand ice cream business Tip Top from global dairy co-operative Fonterra for 380 million NZD ($250 million). The Tip Top name and its operations, including the Auckland based factory site at Mount Wellington will be maintained as part of the deal, Froneri said. Tip Top offers single serve ice …
Fonterra, the multinational milk processor, has announced that it has joined forces with the consumer goods firm Future Consumer, part of Future Group, to market dairy products in India. The new venture, which is to be called Fonterra Future Dairy Partners, will market a range of products for both retail and foodservice channels that will “help meet the growing demand for high-quality dairy nutrition in India”, according to a company statement. …
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