US EditionFrench Billionaire Emmanuel Besnier’s Lactalis To Buy Fonterra Consumer Unit For $2.2 Billion
Fonterra plans a NZ$2.00 per share capital return to its farmer shareholders following the sale, which includes iconic brands like Mainland and Anchor.
- Fonterra has agreed to sell its Consumer and associated businesses to Lactalis for $3.845 billion, subject to farmer shareholder approval and regulatory consents.
- After more than a year of review, the Fonterra board pursued divestment after testing IPO and trade-sale options, aiming to focus on ingredients and foodservice while delivering value to farmer shareholders.
- The deal covers Fonterra's Consumer business and brands like Mainland and Anchor, including Foodservice and Ingredients units across Oceania, Sri Lanka, the Middle East and Africa, with sale of shares in Mainland Group Holdings Limited and long-term supply agreements ensuring Fonterra remains a supplier.
- Fonterra will issue a Notice of Meeting in early October ahead of the shareholder vote, targeting a tax-free capital return of $2.00 per share, about $3.2b, to farmer shareholders.
- Subject to final regulatory clearances from Overseas Investment Office and Foreign Investment Review Board, the deal could reach $4.22 billion if Bega licences are included and finish in early 2026; Australian Competition and Consumer Commission has cleared it.
25 Articles
25 Articles
French Billionaire Emmanuel Besnier’s Lactalis To Buy Fonterra Consumer Unit For $2.2 Billion
The deal includes Auckland-based Fonterra’s consumer brands such as Anchor, Mainland, and Anlene in the Asia Pacific, excluding China. Lactalis owns brands such as Kraft, Parmalat and President.
Otago Daily Times
RNZFonterra sells Mainland, Anchor brands to French food giant
Fonterra chief executive Miles Hurrell. Photo: RNZ / Dan Cook Dairy co-operative Fonterra has sold its consumer businesses to global dairy giant Lactalis for $3.845 billion.
New Zealand’s Fonterra to sell consumer business to Lactalis for $2.2 billion
(Reuters) -New Zealand’s Fonterra Co-operative Group will sell its global consumer and associated businesses to French dairy giant Lactalis for NZ$3.845 billion ($2.24 billion), the company said on Friday. The sale includes Fonterra’s global consumer business, encompassing the operations of brands such as Mainland and Anchor butter, Kapiti ice cream and cheese and the Anlene powdered milk supplement. The transaction also covers the dairy company…
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