Fonterra to merge New Zealand and Australian businesses
Source: The DairyNews
Fonterra, the dairy corporation, has unveiled plans to amalgamate its New Zealand and Australian operations. The merger, set to take effect on May 1st, will see the formation of Fonterra Oceania, as detailed in an official update to the NZX.
Miles Hurrell, the Chief Executive of Fonterra, emphasized the strategic significance of this move in a highly competitive market. The integration of Fonterra Brands New Zealand (FBNZ) and Fonterra Australia aims to enhance the company's trans-Tasman offerings by leveraging the complementary strengths of its businesses in both countries.
Hurrell elaborated on the consolidation, stating, "FBNZ encompasses our consumer brands and foodservice ventures in New Zealand, featuring well-known brands such as Anchor, Mainland, and Kāpiti. These brands will continue to source milk locally." Additionally, he highlighted that the Australian milk pool will remain a crucial source of milk solids for Fonterra's brands and ingredients in Australia.
René Dedoncker, a seasoned leader with a track record of global roles within Fonterra, is slated to head the newly established Fonterra Oceania team, overseeing the integrated operations of the company in both New Zealand and Australia.
Hurrell elaborated on the consolidation, stating, "FBNZ encompasses our consumer brands and foodservice ventures in New Zealand, featuring well-known brands such as Anchor, Mainland, and Kāpiti. These brands will continue to source milk locally." Additionally, he highlighted that the Australian milk pool will remain a crucial source of milk solids for Fonterra's brands and ingredients in Australia.
René Dedoncker, a seasoned leader with a track record of global roles within Fonterra, is slated to head the newly established Fonterra Oceania team, overseeing the integrated operations of the company in both New Zealand and Australia.
