Behind closed doors: Which firms clipped the ticket on the $4.2b Fonterra Mainland Group sale

Fonterra's Mike Cronin and chief executive Miles Hurrell. (Image: Fonterra/Jacques Steenkamp)

Mon, 15 Sep 2025

Lawyers, bankers, and consultants from across the globe got to clip the ticket on Fonterra’s $4.2 billion Mainland Group sell-off.It took 15 months from when Fonterra’s chief executive, Miles Hurrell, first announced it would potentially divest its consumer business, which included its Australian and Sri Lankan operations, to the deal day just over three weeks ago.Lactalis was long considered the frontrunner on the trade sale side of the deal, but Bega Group, together with FrieslandCampina and Japan’s Meiji Holding, were under...

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