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...

More Primary Sector

Job cuts on the table at embattled BX Foods
Primary Sector

Job cuts on the table at embattled BX Foods

The meat processor operates a plant in Oamaru.

Riley Kennedy 25 Jul 2024
Foresta parts ways with managing director Ray Mountfort
Primary Sector

Foresta parts ways with managing director Ray Mountfort

The company assured shareholders plans for a biomass plant in Kawerau are on track.

Greg Hurrell 25 Jul 2024
NZ raises its concerns with EU over deforestation regulation
Primary Sector

NZ raises its concerns with EU over deforestation regulation

The regulation is tipped to pose “quite significant burdens”.

Riley Kennedy 25 Jul 2024