Fonterra members approve Lactalis deal

The sale of Fonterra's consumer business to the French company Lactalis has now passed the final major hurdle. The vast majority of members of the New Zealand dairy cooperative approved the deal today.

As many as 88,47% of the members voted in favor of selling the mainland groupFonterra's board is pleased with the strong mandate this has given. Fonterra expects to complete the sale to Lactalis in the first half of 2026. This will result in a cash settlement of NZ$4,22 billion, which is approximately €2 billion.

Of this, NZ$3,2 billion goes directly to members as $2 per share tax-free. On average, a Fonterra member holds approximately 150.000 shares. 

By divesting its consumer business, Fonterra says it is entering a new phase, with operations simplified and the cooperative focusing more on B2B markets. The sale is a sensitive issue for New Zealand politicians who recently their concerns statements that several dairy brands are now falling into foreign hands.

Wouter Job

Wouter Baan is Head of Meat & Dairy at BoerenbusinessAt DCA Market Intelligence, he focuses on dairy, pork, and meat markets. He also monitors (business) developments within agribusiness and interviews CEOs and policymakers.

w.baan@boerenbusiness. Nl

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