Fonterra and Nestlé have reached a deal to sell their Brazilian joint venture — Dairy Partners Americas (DPA) to Lactalis for BRL 700 million ($132.2 million). The deal, which is subject to regulatory authority approvals, is likely to close by mid-2023. Dairy Partners Americas was formed by Fonterra and Nestlé in 2003 for manufacturing and […]
New Zealand dairy giant Fonterra said that its two joint venture (JV) farms in China are being sold to Singapore-based AustAsia Investment Holdings for a price of $115.5 million. The sale is anticipated to be wrapped up by the end of this month. It is unconditional and doesn’t need any further regulatory approvals. The two […]
New Zealand dairy giant Fonterra has agreed to divest its farms in China for a total of NZD555 million ($368 million) in two separate deals. Fonterra said that it had successfully developed the farms alongside domestic partners. According to Fonterra CEO Miles Hurrell, the sale of the farms will enable the company to prioritize the […]
Froneri acquisition of Tip Top : Global ice cream manufacturer Froneri has agreed to acquire Tip Top, a New Zealand ice cream brand, from dairy giant Fonterra for NZ$380 million ($250.3 million). Founded in 1936, Tip Top came under the ownership of Fonterra in 2001 as part of its acquisition of Peter and Browne’s foods […]