Game on in the fight between major milk processors Synlait and Fonterra over supply

Synlait's chief executive Grant Watson wants to hold on to some milk supplies. (Image: supplied)

Tue, 01 Oct 2024

“It’s game on.”That’s how Grant Watson, chief executive of the embattled Synlait Milk, describes the fight for milk supply.The Canterbury-headquartered processor reported a $182.1 million loss on Monday following a difficult year for the business after it needed a bailout from its two largest shareholders to repay debt.That bailout, in the form of a capital raise, takes effect on Tuesday and will mean Bright Dairy increases its stake in Synlait to 65%.It allows for its new refinancing deal to take effect and finally sett...

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