Fonterra’s farmer shareholders have voted overwhelmingly—more than 88 percent—in favour of selling iconic consumer brands Mainland and Anchor to French dairy giant Lactalis for $4.2 billion.
The decision, hailed by Fonterra chair Peter McBride as a “strong mandate,” marks the co-operative’s shift toward focusing on supplying ingredients and high-value products rather than consumer brands.
ASB Bank estimates the sale could inject $4.5 billion into the economy, giving farmers an average tax-free payout of around $392,000.
While analysts praised the vote as “democracy in action,” NZ First leader Winston Peters slammed it as “economic self-sabotage,” warning that Lactalis could eventually end milk supply contracts. The deal, still subject to regulatory approvals, is expected to be completed in early 2026.
Good riddance to bad rubbish
Winston is probably correct.
Need to remove the regulations on our famers milk. The globalist added the fake need to pasteurise our milk. Give the farmers and consumers the freedom to choose.
Selling it all off to climate-crazy EU globalists for a few bucks today DEFINITELY won’t come back to haunt us several years from now 🌈
My 1 litre of Long Life Milk- currently at the outrageous price of NZ$3.89.
AFTER the sale of Fonterra’s brand to Chief Inspector Closeau; try NZ$8.50 by 2027, IF anything is produced at all…
I may have to covertly sneak out in the middle of the night with a bucket and pull a few tits on my own undetected..!
There goes the Cottage Cheese…the Cream Ceese…the Sour Cream…the Ice Cream…
Hi-Ho the Dairy-O, the Cheese Stands Alone….until it too becomes unaffordable!
“Price of Anchor & Mainland butter skyrocket. Government is stumped / puzzled / shocked”
A headline coming in early 2026, as soon as the deal is sealed.
Penny wise pound foolish – Winston is 100% correct.
We are going to get smoked – buying household dairy down the line.
I shall go out of my way to buy foreign farm products -both- dairy and meat from now on.