Why Fonterra accepted defeat in the dairy aisle
OPINION: Fonterra's sale of its consumer dairy business to Lactalis is a clear sign of the co-operative’s failure to compete in the branded consumer market.
Fonterra chairman John Monaghan says Tip Top’s new owner, Froneri is doing a great job looking after its former employees.
He told the co-op’s annual meeting in Invercargill today that selling Tip Top wasn’t easy.
“We knew it wouldn’t be a popular decision with some of you, but it was the right call.
“Was it an iconic business? Yes. Was it on strategy and a key part of our future? Definitely not.
“Once we took the emotion out of the process, making that call was easy: we divested it as a mature asset for a great price.”
Monaghan says Froneri has retained all former Fonterra employees, who have kept their jobs as part of the deal.
Fonterra has used the proceeds to help reduce debt levels and give it more options for the future.
It has sold its stake in Venezuelan consumer joint venture, Corporacion Inlaca, and its 50% share of DFE Pharma – a joint venture with FrieslandCampina.
“We are considering our options for our ownership of our China Farms, Dairy Partners Americas which is our joint venture in Brazil, and have begun the process of sellingdown our 18.8% shareholding in Beingmate.”
The Ministry for the Environment is joining as a national award sponsor in the Ballance Farm Environment Awards (BFEA from next year).
Kiwis are wasting less of their food than they were two years ago, and this has been enough to push New Zealand’s total household food waste bill lower, the 2025 Rabobank KiwiHarvest Food Waste survey has found.
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DairyNZ says its plantain programme continues to deliver promising results, with new data confirming that modest levels of plantain in pastures reduce nitrogen leaching, offering farmers a practical, science-backed tool to meet environmental goals.
'Common sense' cuts to government red tape will make it easier for New Zealand to deliver safe food to more markets.
Balclutha farmer Renae Martin remembers the moment she fell in love with cows.
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