US EditionAustralian Regulator Clears Lactalis' Proposed Acquisition of Fonterra Businesses
AUSTRALIA, JUL 10 – The Australian Competition and Consumer Commission found the acquisition unlikely to reduce competition due to product differences and strong supermarket bargaining power, ACCC said.
- On July 11, 2025, the Australian Competition and Consumer Commission approved Lactalis's acquisition of Fonterra’s consumer, dairy ingredients, and food service businesses.
- During its assessment, the ACCC concluded that alternative buyers would continue to constrain Lactalis in Victoria's Gippsland, Murray, and Western regions, minimizing competition concerns.
- ACCC deputy chair Mick Keogh confirmed that Lactalis's acquisition of Fonterra's businesses combines two major raw milk buyers, unlikely to reduce competition across dairy products despite ongoing import competition.
- After ACCC approval, Lactalis can proceed with acquiring Fonterra’s businesses, but Fonterra has not yet committed to acceptance and remains exploring sale options.
- Market concentration is projected to rise, with farmers fearing a potential $3 billion windfall and downward pressure on milk prices, despite regulator assurances of limited competition impact.
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ACCC greenlights proposed Lactalis acquisition
The ACCC will not oppose Lactalis’s proposed acquisition of Fonterra’s consumer, dairy ingredients and food service businesses. While the transaction would combine two of the largest buyers of raw milk in Victoria and lead to some further consolidation in Tasmania, the ACCC has determined it is unlikely to result in a substantial lessening of competition. The ACCC found that across Gippsland, the Murray and Western Victoria, alternative buyers o…
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