Video | Agriculture | Confidence | Economy | Energy | Employment | Finance | Media | Property | RBNZ | Science | SOEs | Tax | Technology | Telecoms | Tourism | Transport | Search

 


Fonterra cleared to acquire the branded butter

9 November 2005

Fonterra cleared to acquire the branded butter and spreads business of NZDF

The Commerce Commission has cleared Fonterra Co-operative Group Limited to acquire from New Zealand Dairy Foods Limited (Rank Group
the 'Anchor', 'Fernleaf' and 'Country Soft' brands and associated business.

Commission Chair Paula Rebstock said that the Commission was satisfied that the proposed acquisition would not have, or would not be likely to have, the effect of substantially lessening competition in the national markets for:

- the wholesale supply and distribution of consumer butter; and
- the wholesale supply and distribution of consumer yellow spreads (excluding butter).

Fonterra is a vertically integrated dairy products manufacturer and marketer, operating in all dairy products markets in New Zealand and numerous other countries. It operates through two main business divisions: Ingredients and Consumer Dairy Products.

Rank Group is a private equity investor based in Auckland. It has two operating subsidiaries: Burns Philp & Company Limited based in Australia and NZDF. Burns Philp wholly owns Goodman Fielder, which operates in various food markets in New Zealand, including the retail yellow spreads (excluding butter) market.

A public version of the written decision will shortly be available on the Commission's website, www.comcom.govt.nz under Public Registers.

ENDS

© Scoop Media

 
 
 
 
 
Business Headlines | Sci-Tech Headlines

 

Half A Billion Accounts: Yahoo Confirms Huge Data Breach

The account information may have included names, email addresses, telephone numbers, dates of birth, hashed passwords (the vast majority with bcrypt) and, in some cases, encrypted or unencrypted security questions and answers. More>>

Rural Branches: Westpac To Close 19 Branches, ANZ Looks At 7

Westpac confirms it will close nineteen branches across the country; ANZ closes its Ngaruawahia branch and is consulting on plans to close six more branches; The bank workers union says many of its members are nervous about their futures and asking ... More>>

Interest Rates: RBNZ's Wheeler Keeps OCR At 2%

Reserve Bank governor Graeme Wheeler kept the official cash rate at 2 percent and said more easing will be needed to get inflation back within the target band. More>>

ALSO:

Half Full: Fonterra Raises Forecast Payout As Global Supply Shrinks

Fonterra Cooperative Group, the dairy processor which will announce annual earnings tomorrow, hiked its forecast payout to farmers by 50 cents per kilogram of milk solids as global supply continues to decline, helping prop up dairy prices. More>>

ALSO:

Results:

Meat Trade: Silver Fern Farms Gets Green Light For Shanghai Maling Deal

The government has given the green light for China's Shanghai Maling Aquarius to acquire half of Silver Fern Farms, New Zealand's biggest meat company, with ministers satisfied it will deliver "substantial and identifiable benefit". More>>

ALSO:

Get More From Scoop

 
 
 
 
 
 
 
 
 
Business
Search Scoop  
 
 
Powered by Vodafone
NZ independent news