Fonterra to buy 20% stake in China's Beingmate, sell Darnum plant into JV

Wed, 27 Aug 2014

Aug. 27 (BusinessDesk) - Fonterra Cooperative Group plans to enter a joint venture with China's Beingmate that will own the dairy giant's Darnum plant in Australia and produce infant formula products for the Chinese market, for a total investment of $615 million. The Australian joint venture will be 51 percent owned by Beingmate and 49 percent by Fonterra and will distribute Fonterra's Anmum brand products into China, the Auckland-based company said in a statement. The two companies will also evaluate joint investments in dairy farms in Chin...

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