Fonterra Archives - Inside FMCG
Lion and CUB both slipped back in the rankings based on company revenue.
Demand for infant formula and skim milk powder from Australia also dropped over the last 12 months.
The top headlines this week.
The purchase is part of the dairy giant’s plans to streamline operations in the country.
Fonterra chief executive Miles Hurrell said there are positive signals for milk price but warned that a lot can change.
Fraser Whineray will join as chief operating officer in early 2020.
This week’s top news in the industry.
Fonterra is scaling back how much milk it sources from Australian farmers.
The sale brings Fonterra’s debt reduction efforts to over NZ$1 billion.
The struggling dairy co-operative announced a number of asset write downs and one-off accounting adjustments last month.