date:Dec 14, 2022
Fonterra and Nestl have reached an agreement to sell their Brazil-based Dairy Partners Americas (DPA) joint venture to French dairy company Lactalis for BRL 700 million (US$131.5 million), subject to closing transaction adjustments. The deal is expected to be completed by mid-2023, subject to regulatory authority approvals.
Fonterra CEO Miles Hurrell says the sale of DPA Brazil is aligned with the Co-ops strategy of prioritizing its New Zealand milk pool. DPA Brazil has reached maturity as an i