Fonterra goes shopping for cheese asset in Australia – New Zealand Herald

Fonterra is to buy Australian company Dairy Country to support its consumer cheese business across the Tasman.
The acquisition price for the Victoria-based subsidiary of food and beverage company Retail Food Group is NZ$20.9 million.
The purchase, subject to regulatory approvals and standard conditions, would support Fonterra’s core strengths in the A$2.6 billion ($2.8b) Australian retail cheese category, said Fonterra Australia managing director Rene Dedoncker.
Fonterra claims to have a 2…

Click here to view the original article.