Fonterra realises $64m gain on sale of foodspring stake

Thu, 27 Jun 2019

By Rebecca Howard June 28 (BusinessDesk) - Fonterra Cooperative Group has sold its stake in Germany-based Goodminton AG, the parent of active nutrition start-up foodspring, and will realise a $64 million gain on the sale. Fonterra teamed up with foodspring in March last year to tap into the $200 billion 'active' consumer segment. At the time, Judith Swales, then Fonterra’s chief operating officer, velocity and innovation, said the deal would create "a range of exciting new business and market development opportunities for the co-operative...

Unlock all stories free for 10 days

Stay informed on business, government and financial developments across New Zealand.

Deeply researched, twice-edited and fact-checked news
Annual subscribers also receive a complimentary subscription to The Wall Street Journal
Personalised email news alerts, plus gift up to 5 stories a month to non-subscribers

We won’t charge for 10 days. You can cancel anytime with two clicks, an email or a phone call. Find out more.

We are serious about journalism.

Name {{ registerForm.errors.get('name') }}

Email address {{ registerForm.errors.get('email') }}

Phone Number {{ registerForm.errors.get('phone') }}

Job Title {{ registerForm.errors.get('title') }}

Password Minimum password length of 8 characters.
Require at least one upper and lowercase, numeric, and special character. {{ registerForm.errors.get('password') }}

Repeat password {{ registerForm.errors.get('password_confirmation') }}

We had trouble validating your card. It's possible your card provider is preventing us from charging the card. Please contact your card provider or customer support.

Credit Card

Cardholder's name

{{ __(plans[index].interval) | capitalize }} {{ plans[index].attributes.old_price | currency }} {{ plans[index].price | currency }}

You will be charged in 10 days unless you cancel beforehand.
We will remind you three times before charging you.
All subscriptions auto renew but are easy to cancel.

I Accept The Terms Of Service

{{ registerForm.errors.get('terms') }}

Tax: {{ taxAmount(selectedPlan) | currency }}

Total Price Including Tax: {{ priceWithTax(selectedPlan) | currency }} {{ selectedPlan.type == 'user' && spark.chargesUsersPerSeat ? '/ '+ spark.seatName : '' }} {{ selectedPlan.type == 'user' && spark.chargesUsersPerTeam ? '/ '+ __('teams.team') : '' }} / {{ __(selectedPlan.interval) | capitalize }}

Infrastructure

Watercare to stand alone financially

The financial divorce will avoid a proposal to hike water charges by 25.8%.

Oliver Lewis 4:55pm

Climate change Opinion

Having kids in this day and age doesn’t make you a moron

Refraining from procreating is not the answer to the global warming crisis.

Bloomberg 5:00am

Having kids in this day and age doesn’t make you a moron

World

Wanted: Megabank chief willing to work for half pay

HSBC seeks a global CEO to work for a fraction of the pay of a US bank boss.

The Wall Street Journal 5:00am

Wanted: Megabank chief willing to work for half pay

Sponsored

Next-gen CCTV protecting our cities

Fibre connectivity supporting rapidly evolving CCTV advances.

Chorus

Sponsored

Cyber alerts in New Zealand on the rise

A shortage of security experts puts pressure on combating threats

Fortinet

More Primary Sector

Primary Sector

Dairy Goat Co-op chair Campbell Storey to step down

He won't go until the annual meeting in September, however.

Riley Kennedy 02 May 2024

Primary Sector

John Penno quits Synlait board as George Adams elected chair

Synlait Milk co-founder John Penno has quit the company’s board, and George Adams has taken over as chair.The debt-laden milk processor told the New Zealand stock exchange (NZX) on Wednesday that Adams, who joined the board in March as an independent director, would take over fro...

Riley Kennedy 01 May 2024