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New Zealand farmers nearly unanimously back Fonterra’s $3.4B sale of Mainland to Lactalis, pending approval.
Fonterra’s New Zealand farmer advisory council has nearly unanimously approved the $3.4 billion sale of its global business, Mainland, to French dairy giant Lactalis, pending shareholder and regulatory approval.
Voting by farmers begins October 7.
The deal, part of a broader divestment process, follows strong financial results with $26 billion in revenue and a final farmgate milk price of $10.16 per kgMS, returning $15.3 billion to farmers.
Fonterra plans to reinvest $1 billion annually in high-value products and return $3.2 billion to shareholders.
Concerns remain over Lactalis’s lack of transparency and past regulatory issues, while industry experts warn of future disruptions from synthetic milk and ongoing environmental and mental health challenges in farming.
Los agricultores de Nueva Zelanda respaldan casi unánimemente la venta de 3.4 mil millones de dólares por parte de Fonterra de Mainland a Lactalis, en espera de su aprobación.