Business
Fonterra goes shopping for cheese asset in Australia – New Zealand Herald
Fonterra buys cheese market booster in Australia.
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…
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