Sarah ChenFood
Fonterra Annual Profit Jumps to NZ$2.6 Billion on Mainland Sale
Underlying operating profit hit NZ$1.8 billion two years ahead of target as record milk volumes offset softer global reference prices.
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Fonterra
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22 stories in this topic
Maria SantosFood
Fonterras Positive Momentum Continues with $1.5B Q3 Operating Profits Despite Global Uncertainties
New Zealand-based dairy cooperative, Fonterra, is exuding optimism about its future performance amid global uncertainties. The company’s third quarter results showed a promising $1.5 billion in operating profits, marking an impressive year-on-year increase of…
Minjun ParkFood
From MyMilk Founder to Fonterra CEO: Richard Allen to Guide Dairy Giant Towards Strategic Transition
Fonterra, the world’s foremost dairy exporter, has concluded its internal hunt for a new Chief Executive Officer (CEO) by naming the veteran employee, Richard Allen, as successor. Richard Allen: The New CEO of Fonterra Richard Allen, who started his career…
Maria SantosFood
End of an Era: Fonterra’s CEO Miles Hurrell Set to Bid Adieu After 25-Year Tenure
Miles Hurrell, the Chief Executive Officer of Fonterra, will be ending his tenure in December after serving the corporation for 25 years. Hurrell’s Journey in Fonterra Mr. Hurrell was appointed as the co-operative’s CEO in 2018, a period that marked a…
Rajiv MenonFood
Final Countdown for Fonterra’s Multi-Billion Dollar Mainland Sale to Lactalis: Unconditional Deal Set for Imminent Closure
Fonterra, the New Zealand-based co-operative, has announced that it is on the cusp of finalising the sale of its Mainland consumer business. As of now, the deal has met all the necessary conditions and is set to conclude within the current month. Regulatory…
Wei ZhangFood
Fonterra Farmer Shareholders Green-Light $4.22 Billion Consumer Division Sale to Lactalis
Fonterra’s farmer shareholders have granted approval for the company’s proposal to divest its consumer products division. The Mainland Group and its associated businesses are set to be sold to Lactalis for a sum of $4.22 billion. High Support for Divestment A…
Wei ZhangFood
Fonterra Sells Global Consumer Business To Lactalis In $3.48 Billion Deal
Fonterra, a leading dairy company, has announced it is selling its global Consumer and associated businesses to French dairy enterprise, Lactalis. The transaction is valued at NZ$3.845 billion ($3.48 billion). Details of the Sale The sale incorporates…
Wei ZhangFood
Fonterra Settles Dispute With Bega Group, Proceeds With Nz$4.22 Billion Divestment To Lactalis
Fonterra has successfully settled its disagreement with the Bega Group over Bega licenses in Australia. This settlement followed Fonterra’s decision to divest its consumer business to Lactalis, a French dairy conglomerate. Fonterra’s Divestment to Lactalis…
Maria SantosFood
Bega Cheese Eyes Acquisition Of Fonterra Oceania: A Potential Boost For Australia’s Dairy Industry
Bega Cheese, an Australian dairy company, has indicated its intention to file an application with the Australia Competition and Consumer Commission (ACCC) seeking authorisation for its planned acquisition of Fonterra Oceania. Enhancing Outcomes through…
Wei ZhangFood
Fonterra Commits $65 Million to Ditch Coal and Embrace Renewable Energy
Fonterra has taken a major step toward its decarbonisation goals with the commissioning of its first electrode boiler at its Edendale site in Southland, New Zealand. This move marks a significant shift away from coal usage in the dairy cooperative’s…
Aiko TanakaFood
Fonterra to close milk powder packaging facility in New Zealand
Fonterra will shut its Canpac packaging facility in New Zealand in July, impacting approximately 120 employees. The site primarily blends and packages milk powders. Its closure forms part of Fonterra’s plan to divest its consumer business, which includes…
Sarah ChenFood
Fonterra profits increase despite volatile market conditions
Fonterra Co-operative Group Ltd today released its 2023 Interim Results which show the Co-op has delivered a half year Profit After Tax of $546 million, an earnings per share of 33 cents, and a decision to pay an interim dividend of 10 cents per share…
Wei ZhangFood
Fonterra reports strong sales, eyes higher earnings
The company attributed its strong earnings growth to the performance of its protein portfolio, particularly in medical nutrition. It has forecast farmgate milk price of between $8.50 to $9.50 per kg of milk solids, with a midpoint of $9. Mike Hurrell,…
Maria SantosFood
Fonterra reports strong sales, eyes higher earnings
Fonterra’s first-quarter profit jumped 84% as it benefits from strong margins in its protein and cheese products. The country’s largest dairy processor said normalized after-tax profit increased to $214 million in the three months to October 31, from $116m…
Wei ZhangFood
Fonterra to retain Australia business, shares long-term strategies
New Zealand dairy giant Fonterra has decided to retain full ownership of its Australian business after a 12-month review, with chief executive Miles Hurrell saying the Australian consumer brands are important in the company’s strategy of moving higher up the…
Wei ZhangFood
Fonterra to retain Australia business, shares long-term strategies
New Zealand dairy giant Fonterra has decided to retain full ownership of its Australian business after a 12-month review, with chief executive Miles Hurrell saying the Australian consumer brands are important in the company’s strategy of moving higher up the…