Fonterra confirms NZ Dairies price

Last updated 16:47 16/01/2013

Related Links

NZ Dairies in receivership

Relevant offers


John Key commits $20 million to help reduce agriculture emissions GPS and surveillance helps police catch farm thieves South Canterbury water use investigation to cost $636,000 - MPI After clearing scrub, NZ farmers are urged to plant for manuka honey Farms sales even over three years Master Plan for Auckland's Cornwall Park revealed Waikato dairy farmers disgusted at abusive behaviour National Agricultural Fieldays boss Jon Calder resigns to head law firm Fonterra sign deal to manufacture Aussie infant formula Young auctioneer calls it right

Fonterra has confirmed it paid $48.5 million for the assets of failed Canterbury milk processing company New Zealand Dairies.

The Studholme dairy company was owned by Russian infant food manufacturer Nutritek, whose parent company went bankrupt.

Receiver BDO's report showing dominant New Zealand milk processor Fonterra paid $48.5m for the South Canterbury assets has been confirmed by Fonterra.

NZ Dairies, in which the Russians invested more than $100m, was put into receivership in May last year, owing more than $26m to its farmers and throwing their supply future into doubt on the eve of a new dairy season.

Fonterra, which collects 90 per cent of milk in this country, was cleared by the Commerce Commission late last year to acquire the Canterbury company's assets.

Ad Feedback

- Waikato Times

Special offers
Opinion poll

Is it time for authorities to introduce tougher penalties for poaching?



Vote Result

Related story: Booby traps for poachers cost farmers

Featured Promotions

Sponsored Content

Agri e-editions

Digital editions

Read our rural publications online