The latest news, trends, analysis, interviews and podcasts from the global food and beverage industry

Australian dairy group Bega Cheese has confirmed it is seeking informal regulatory approval for its potential acquisition of Fonterra’s Oceania business.

In 2024, New Zealand-based Fonterra announced that it would explore full or partial divestment options for ‘some or all’ of its global consumer business, as well as its integrated businesses, Fonterra Oceania and Fonterra Sri Lanka.

Several major international dairy companies were reported to be considering bids for Fonterra’s global consumer businesses, including Meiji, Lactalis and Saputo, last month.

In a statement yesterday (16 June 2025), Bega Cheese confirmed it has advised the Australian Competition and Consumer Commission (ACCC) that it intends to lodge an application ‘imminently’ for informal clearance.

Bega wrote in its statement: “Bega Group believes that if it were to be included in the sale process and the successful acquirer of the Oceania assets, it would significantly enhance outcomes for the company and the dairy industry as a whole, particularly in Australia”.

It added that the combination of the Fonterra and Bega Group assets in Australia would lead to “greater efficiencies and enhanced outcomes for Australian farmers, customers and consumers”.

Fonterra Oceania was created through merging Fonterra Brands New Zealand and Fonterra Australia. It comprises consumer, foodservice and ingredients businesses.

According to reports from Reuters, sources have projected the divestment of Fonterra’s consumer-facing operations to raise around NZ 4 billion (approx. $2.37 billion).