Fonterra announced the sale of its two joint venture farms in China for approximately $115.5 million. The farms in Shandong province will be sold to Singapore-based AustAsia Investment Holdings.
- Fonterra owns the farms with a joint venture partner, has a 51% stake in the business.
- The sale is another important milestone for the Co-operative and aligns to its strategy of prioritising New Zealand milk.
The prominent deals and expansions by Fonterra are featured below:
Jan 2021: To address agricultural greenhouse gas emissions Fonterra and Royal DSM, a global science-based company, have signed a collaboration agreement. The agreement will helps to accelerate the transition to lower methane agriculture.
Oct 2020: The leading dairy company China Youran Dairy Group Limited (Youran), announced that its subsidiary Inner Mongolia Natural Dairy Co., Ltd agreed to purchase Fonterras two farming-hubs in Ying and Yutian for $513 million.
Sep 2020: Fonterra announced that its subsidiary Fonterra Australia has signed an agreement to purchase Dairy Country to expand its cheese business in Australia. The acquisition, from food and beverage company Retail Food Group, includes Dairy Countrys processing and packing facilities at Campbellfield and Tullamarine in Victoria, along with related services, intellectual property and the trademark for the Dairy Country brand.
September 2020: Fonterra had signed up as a foundation donor partner to the newly created New Zealand Food Network, a food charity that stores and re-distributes large volumes of surplus and donated food.
January 2020: Fonterra had completed the sale of its 50% share of DFE Pharma to CVC Strategic Opportunities II. As previously announced in September 2019, this sale was subject to regulatory approvals from competition authorities and these have now all been received.
September 2019: Fonterra had purchased the minority interest in Prolesur, held by Fundación Isabel Aninat (the Fundación), as the Co-op looks to streamline its operations in Chile. The Fundación hah sold its 13.6% shareholding for $29.3 million NZD, which takes Fonterras ownership of Prolesur from 86.2% to 99.9%.
Fonterra Cooperative Group, headquartered in Auckland, New Zealand, is the world’s largest exporter of dairy products, and a leader in dairy science and innovation. The Cooperative Group is owned by more than 10,000 farmers. The companys product is enjoyed by millions of people in more than 100 countries. The group portfolio of well-known brands includes Western Star, Perfect Italiano, Bega, Mainland and Australian Dairies.