Fonterra snaffles distressed Tasmanian yoghurt-maker

Wed, 06 Nov 2013

Nov 6 (BusinessDesk) – Fonterra has snapped up a distressed Tasmanian yoghurt company, Tamar Valley Dairy, in its latest contribution to the consolidation of Australian dairy assets. Family-owned Tamar, which employs 170 people, was placed in voluntary administration in September, owing creditors A$9 million. Fonterra appeared to warn there could be job losses as it sought to turn the business around and keep its operations in Tasmania. The Auckland-based cooperative and world’s largest dairy exporter would “work closely with the people at...

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