Fonterra to sell Soprole to Peru's Gloria for $1.06b

Fonterra to sell Soprole to Peru's Gloria for $1.06b
Rumours have been rife about a pending sale in recent weeks. (Image: BusinessDesk)
Rebecca Howard
Fonterra has agreed to sell its Chilean business to Peru’s Gloria Foods for about $1.06 billion.“Soprole is a very good business but does not rely on New Zealand milk or expertise. We are now at the end of the divestment process and have agreed to sell Soprole to Gloria Foods ... ,” said Fonterra's chief executive, Miles Hurrell.Gloria Foods is a consumer dairy market leader in Peru, with operations in Bolivia, Puerto Rico, Argentina, Colombia and Uruguay. It and Fonterra also have a long-standing commercial relations...

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