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Nestlé Alliance Historic Step For NZ Dairy Farmers

Nestlé Alliance Historic Step For New Zealand Dairy Farmers

The formal establishment of Dairy Partners America marks an historic day
for New Zealand dairy farmers, Fonterra Co-operative Group Ltd Chairman
John Roadley said today.

"If, ten years ago, dairy industry leaders had told us we would have an
equal alliance with Nestlé providing rights to use its brands throughout
the Americas, I doubt many of us would have believed it," Mr Roadley said.
"That this alliance has been progressed to this point underlines how far
we have come in recent years and the opportunities that are now before us
following the creation of Fonterra."

Mr Roadley said the Fonterra board was confident the alliance was the best
path forward to build Fonterra's position in the Americas' US$100 billion
annual dairy market.

"In recent years, we have established sound beachheads in the Americas.
The alliance will enable us to move to the next stage of the development
of our business, for the benefit of New Zealand dairy farmers and the
country as a whole."

Mr Roadley said he was looking forward to speedy progress in having the
first of Dairy Partners Americas' Joint Ventures established within three
months.

"This alliance with the world's leading food company would not have been
possible without shareholder support for last year's dairy merger and the
creation of Fonterra."

END

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