Overview
- Farmer-owners voted 88.5% in favour at a virtual meeting to divest Fonterra’s global consumer and associated businesses to Lactalis.
- The transaction totals NZ$4.2 billion, including NZ$375 million for Bega Cheese licences, with completion targeted for the first half of 2026 pending approvals and operational separation.
- Iconic New Zealand brands including Anchor, Mainland and Kāpiti would transfer to Lactalis under the deal terms.
- The agreement includes multi‑year contracts for Fonterra to supply Lactalis with ingredients, subject to concerns raised about potential future termination rights.
- Fonterra leadership says the sale will refocus the co‑op on advanced ingredients and food service, with about 7% of milk projected to be sold to Lactalis.