Gloria Foods completed the acquisition of Soprole from Fonterra for $650m.

Gloria Foods, a consumer dairy market company, completed the acquisition of Soprole, a maker of dairy products, from Fonterra, a dairy nutrition co-operative, for $650m. “A key pillar of our strategy is to focus on New Zealand milk. Soprole is a very good business but does not rely on New Zealand milk or expertise. We are now at the end of the divestment process and have agreed to sell Soprole to Gloria Foods,” Miles Hurrell, Fonterra CEO.