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...

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