Fonterra completes Tasmanian dairy takeover

ANDREA FOX
Last updated 11:24 27/11/2013

Relevant offers

Dairy

Knewe offers shares in new prebiotic for cows Struggle to continue for farmers, but they're cheering strong Fonterra profit Whirlwind search to assemble new herd Fonterra: how it benefits from low milk prices Bad timing after buying second farm as milk price dropped Ford's farewell their Waimea Plains dairy herd after 50 years Sad day looms for stud dairy breeder Fonterra lifts farmgate forecast by 50c to $5.25, beating break-even for farmers LIC general manager NZ Markets resigns for personal reasons Grass grows at Westpac Taranaki Agriculture Research Station

Fonterra is now an even bigger cheese in Tasmania, after finalising its purchase of Tamar Valley Dairy in the Australian island state.

Tamar's yoghurt business is now under full ownership and management of Fonterra Australia.

The acquisition of Tamar's processing equipment, services, intellectual property and trademark, will see 122 jobs kept but 18 roles made redundant.

Fonterra Australia managing director Judith Swales said the purchase strengthened the company's position as a leader in the dairy industry across the Tasman and Tamar's products complemented Fonterra's existing yoghurt portfolio, which included market leader Nestle SKI.

In Tasmania, Fonterra already operates two manufacturing plants at Spreyton and Wynyard in the north of the state.

The company processes half of Tasmania's milk, collecting more than 500 million litres from 260 farms a year. It employs 220 people and over the past two years has invested $20 million in the two plants.

Ad Feedback

- Stuff

Special offers

Featured Promotions

Sponsored Content