Sugar hit
OPINION: Winston Peters has described the decision to sell its brand to Lactalis and disperse the profit to its farmer shareholders as a 'short sighted sugar hit'.
For years, the loss-making billion-dollar investment has prompted farmer shareholders to question the logic behind owning the farms and cows.
And that's why the co-op was keen to officially part ways with the farms without any fanfare.
A media release announcing completion of the sale was issued by Fonterra at 4.20pm Thursday, on the eve of Easter weekend.
Milking It notes that the date of the release was April 1st but Fonterra could fool no one. It was a disastrous investment and farmer shareholders would be glad to see the back of the China Farms.
