Miles Hurrell wants to Anchor down on Fonterra’s core

Fonterra intends to call in investment bankers to look at options for its consumer business. (Image: NZME)

Fri, 17 May 2024

Processing, collecting, and selling milk.That’s what Fonterra’s core business is, and chief executive Miles Hurrell says the co-operative doesn’t need the consumer business to do that.On Thursday, the dairy giant announced that it would call on investment bankers to look at options for its consumer channel through full or partial divestment, as well as the Fonterra Oceania and Fonterra Sri Lanka.The idea is to drop the business, whose return on capital was described as “unacceptable” by its short-lived chief financ...

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