Fonterra, Nestlé to sell Brazil joint venture for $210m

Fonterra, Nestlé to sell Brazil joint venture for $210m
(Image: Getty)
Rebecca Howard
Fonterra and Nestlé will sell their Dairy Partners Americas (DPA) Brazil joint venture to French dairy company Lactalis for R$700 million (Brazilian reals), or roughly NZ$210m.The deal is expected to be completed by the middle of next year, subject to regulatory authority approvals.Fonterra's chief executive, Miles Hurrell, said the sale of DPA Brazil aligned with the co-operative’s strategy of prioritising its New Zealand milk pool.“DPA Brazil has reached maturity as an investment for us, and the sale allows us to priori...

More Primary Sector

Zespri on track for 'moderate increase' in volume next year
Primary Sector

Zespri on track for 'moderate increase' in volume next year

Zespri's producer vote to expand global supply passed this week.

Riley Kennedy 12 Dec 2024
Yashili NZ revenue dropped 42%
Primary Sector

Yashili NZ revenue dropped 42%

The Chinese-owned dairy processor’s accounts were due in May.

Riley Kennedy 12 Dec 2024
Zespri growers vote in favour of expanding global supply
Primary Sector

Zespri growers vote in favour of expanding global supply

Zespri’s growers have voted to support the expansion of the kiwifruit marketer’s global supply.A total of 90.6% of voting growers and 93.3% by fruit weight voted in favour of the resolution, which will allocate up to 420 hectares of SunGold fruit per year over six years in Italy,...

Riley Kennedy 11 Dec 2024