Lactalis to acquire the consumer and associated businesses from Fonterra for NZD3.8bn.

Lactalis, a dairy group, agreed to acquire the consumer and associated businesses from Fonterra, an exporter of dairy products, for NZD3.8bn. “As the world’s largest dairy company, Lactalis has the scale required to take these brands and businesses to the next level. Fonterra farmers will continue to benefit from their success, with Lactalis to become one of our most significant Ingredients customers. At the same time, a divestment of these businesses will allow Fonterra to deliver further value for farmer shareholders and New Zealand by focusing on our world leading Ingredients and Foodservice businesses, through which we sell innovative products to more than 100 countries around the world, from our home base here in New Zealand,” Miles Hurrell, Fonterra CEO.