Fonterra consumer business sale price jumps to $4.22b
The sale price of Fonterra’s global consumer and associated businesses to the world’s largest dairy company Lactalis has risen to $4.22 billion.
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.”
The conversion of productive farmland into trees has pretty much annihilated the wool industry.
OPINION: Productive whole farmlands conversions into forestry are becoming a thorny issue for the Government.
Thus far in 2025, the Hawke's Bay rescue helicopter crew have completed over 220 missions, resulting in numerous positive patient outcomes.
The New Zealand Food Network's (NZFN) fifth birthday celebrations have been boosted by a whopping five tonne meat donation from meat processor ANZCO.
Pukekohe vegetable growers farewelled 101-year-old Alan Wilcox in late July, celebrating his many achievements and reflecting the widespread respect in which he was held.
A new nationwide survey shows New Zealanders expect farmers and food producers to play a leading role in cutting greenhouse gas emissions, but also gave them higher marks than most industries for their current efforts.
OPINION: Milking It reckons if you're National, looking at recent polls, the dream scenario is that the elusive economic recovery…
OPINION: Sydney has a $12 million milk disposal problem.