French dairy giant Lactalis has reached an agreement to acquire New Zealand–based Fonterra’s global consumer business for NZD 3.845 billion (approx. DKK 14.3 billion).

The acquisition covers Fonterra’s global consumer operations – excluding China as well as certain foodservice and ingredients activities. The deal includes well-known brands such as Mainland, Anchor, Kapiti, and Anlene, which are sold in supermarkets and to foodservice providers in Australia, Oceania, Sri Lanka, and the Middle East. In addition, 16 production facilities in the relevant countries will become part of Lactalis Australia.

Lactalis, already the world’s largest dairy company, views the acquisition as a strategic opportunity to strengthen its position in key markets. Group CEO Emmanuel Besnier stated:
– With this acquisition, we are significantly reinforcing our strategy across Oceania, Southeast Asia, and the Middle East.

The divestment is part of Fonterra’s strategy to focus on its core business—ingredients and foodservice—and to enhance its global competitiveness in the ingredients sector. Fonterra’s CEO Miles Hurrell emphasized that the cooperative’s farmers will continue to benefit from the partnership, as Lactalis will become one of their largest customers. The sales agreement includes a long-term contract under which Fonterra will supply milk and ingredients to Lactalis.

The transaction is subject to approval from both farmers and regulatory authorities and is expected to close in early 2026.

Photo: Fonterra