Bega Shares Acquisition Puts Fonterra Firmly in Australia
NEW ZEALAND - Fonterra has joined in the consolidation of the Australian dairy industry in purchasing six per cent of dairy company, Bega Cheese Limited.
6 November 2013
1 minute read
This is according to Fonterra Chief Executive Theo Spierings who stated that the A$46 million investment took the company into the hugely strategic Australian dairy market.
At a cost of A$4.95 for each one of the 9.3 million shares, the move will build on relationships already formed by Fonterra in the past.
Bega's brand is currently licensed by Fonterra, which owns a substantial supply contract for Bega cheese.
Judith Swales, Managing Director, Fonterra Australia said, “We have a longstanding partnership with Bega, and we look forward to continuing to build on that relationship into the future.”
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