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Fonterra seeks alternative dairy investments
12 Apr 2005
Fonterra said that selling the co-operative’s 19 per cent stake in National Foods to San Miguel would effectively pay for some of Fonterra's alternative expansion plans in Australia. Fonterra will make a profit of $210 million on the 19 per cent stake that it holds in NatFoods. Fonterra will pursue other growth options in Australia. Fonterra owns 50 per cent of Victorian dairy group Bonlac Foods, cheese brands including Bega and Mainland, and operates Western Australia's dairy market leader, Peters & Brownes. Options include a bid for either or both of Dairy Farmers in New South Wales or the Queensland-based Parmalat.
Financial Review, 12/04/05
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