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New Zealand farmers back $4.2B sale of Fonterra’s consumer arm to Lactalis, pending approval, amid national debate.
New Zealand farmers have approved the sale of Fonterra’s consumer business to French company Lactalis in a NZ$4.2 billion deal, with 88.5% support, including brands like Anchor and Mainland.
The transaction, pending regulatory approval, is expected to close in early 2026 after separating consumer operations.
Fonterra’s chairman said the move allows focus on core ingredients and foodservice businesses, with a planned tax-free capital return of $3.2 billion to shareholders.
The sale has drawn criticism from New Zealand’s foreign minister, who called it “utter madness,” warning of risks to long-term milk supply agreements and national economic interests.
Los agricultores de Nueva Zelanda respaldan la venta de $4.2B del brazo de consumo de Fonterra a Lactalis, en espera de aprobación, en medio del debate nacional.