5 August 2024
FrieslandCampina and Pacific Equity Partners (PEP) are tipped to be preparing an offer for all or part of Fonterra’s Australian consumer business by the end of 2024, according to sources in Australia (see also tomorrow’s edition of Dairy Industry Newsletter). Lactalis and Saputo are also said to have expressed an interest, and enquiries have allegedly come from investment firms BGH Capital, Bain Capital, Affinity Equity Partners, CVC, Fountain Vest and PAG. Fonterra put their global consumer business up for sale in May. Most of the assets, estimated to be worth around A$3bn, are in Australia, including key brands and eight sites in Victoria and Tasmania.
