The cooperative said it intended to form a global partnership with Beingmate – with a total investment of $615m – that would help meet China’s growing demand for infant formula.
The partnership would create a fully integrated global supply chain from the farm gate direct to China’s consumers using Fonterra’s milk pools and manufacturing sites in New Zealand, Australia and Europe.
After gaining regulatory approvals and Fonterra satisfactorily completing the partial tender offer, Fonterra and Beingmate will set up a joint venture to purchase Fonterra’s Darnum plant in Australia and will establish a distribution agreement to sell Fonterra’s Anmum brand in China, it said.
Source: New Zealand Herald
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