Fonterra reaches provisional deal with Beingmate to unwind Darnum JV

Tue, 04 Dec 2018

By Paul McBeth Dec. 5 (BusinessDesk) - Fonterra Cooperative Group has reached a provisional deal with Chinese partner Beingmate Baby & Child Food to unwind their Darnum joint venture in Australia. The joint venture - 51 percent owned by Beingmate and 49 percent Fonterra - produced infant formula products at the Darnum plant in Australia for Beingmate's Chinese customers, and was a key component of Fonterra's plan to expand its reach into China's second and third-tier cities. That Beingmate partnership included Fonterra taking a 19 pe...

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