On 18 November 2022, Fonterra announced the divestment of its Chilean Soprole business with aggregate consideration of 591.07 Chilean Pesos (approximately NZD1.055 billion).
The sale of the business to Gloria Foods - JORB S.A. (Gloria Foods) is subject to certain conditions and is expected to be completed within six months.
Fonterra CEO Miles Hurrell says that it is delighted to pass on the Soprole business to a committed new owner and that the Fonterra Board intends to make a final decision on the amount and timing of any capital return once the sale agreement is unconditional.
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