Fonterra exits Dairy Farmers of America joint venture, retains supply deal

Wed, 18 Nov 2015

By Paul McBeth Nov. 19 (BusinessDesk) - Fonterra Cooperative Group, the world's biggest dairy exporter, plans to sell its stake in the DairiConcepts ingredients joint venture with Dairy Farmers of America for some $196 million, after deciding it didn't fit the company's strategy. The Auckland-based cooperative will sell its 50 percent stake in DairiConcepts to partner DFA on Dec. 31, ending a 15-year venture where Fonterra contributed key ingredients to the US dairy and cheese flavours business, while the American cooperative supplied a n...

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