Fonterra's foodservice unit tops $3b in annual revenue

Fonterra says R&D is critical. (Image: Supplied)

Thu, 14 Oct 2021

Fonterra’s bid to up its game in the value-added space is paying off with its foodservice business making more than $3 billion in annual revenue for the first time.“Foodservice is a high-value channel for our farmers’ milk and a key part of our long-term strategy,” said chief executive Miles Hurrell.The dairy cooperative has switched its focus to making the most out of New Zealand milk and is planning to spend $1b in capital expenditure by 2030, with foodservice taking a significant portion of that.The aim is for food se...

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