Fonterra cements position as the big cheese!
Fonterra has cemented its position as the country’s number one cheesemaker by picking up nine NZ Champion of Cheese trophies this year.
Fonterra has confirmed it is considering selling the nation’s beloved ice cream brand, Tip Top.
Fonterra this morning released information on its portfolio review, revealing as predicted that Tip Top could go up for sale.
Commenting on the board-led review, chairman John Monaghan says there is a lot of action and progress but it will take time to flow through into financial results.
He says that while Tip Top is performing well, it is the co-op’s only ice cream business and it has reached full maturity as an investment. Monaghan says to take it to its next phase successfully will require a level of investment beyond what they are willing to make.
Fonterra has appointed FNZC as an external advisor to work with the co-op as it considers “a range of options”.
“We want to see Tip Top remain a New Zealand based business and this is being factored into our options,” says Monaghan.
“We are still some months off from completing the full portfolio review of assets, investments and partnerships. We are moving quickly to meet our commitment to reducing our debt levels by $800 million by the end of the financial year. This requires both improved performance from last year and the divestment of assets.”
Fonterra has cemented its position as the country’s number one cheesemaker by picking up nine NZ Champion of Cheese trophies this year.
New Zealand dairy processors are welcoming the Government’s commitment to continuing to push for Canada to honour its trade commitments.
An educational programme, set up by Beef + Land New Zealand, to connect farmers virtually with primary and intermediate school students has reported the successful completion of its second year.
The Food and Agriculture Organisation of the United Nations (FAO) has welcomed a resolution adopted by the United Nations (UN) General Assembly to declare 2026 International Year of the Woman Farmer.
Waikato herd health veterinarian Katrina Roberts is the 2024 Fonterra Dairy Woman of the Year.
Horticulture NZ chief executive Nadine Tunley will step down in August.
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