Value and risk in China trade from Fonterra brands sale, report finds

Fonterra leadership will be on the road this week seeking a strong mandate for the Mainland Group sale to Lactalis. (Image: Annaliese Shortland / NZME)

Garth Bray

Mon, 29 Sep 2025

Fonterra’s Shareholder Council has released an analysis of the Mainland Group divestment, supporting its sale to French multinational Lactalis, while citing concentration and volatility risks to the ongoing business.“We consider the transaction value and terms represent good value for co-operative shareholders,” the Northington Partners report stated.The report is based on the dual-track sale process undertaken, the $4.22 billion transaction value achieved, and the value of long-term supply agreements with Lactalis for raw mil...

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