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

 

Fonterra Strengthens Its Position in Australia


Fonterra Strengthens Its Position in Australia

Fonterra has today further strengthened its position in the Australian dairy industry by acquiring the assets of Tasmanian yoghurt business, Tamar Valley Dairy.

Under the agreement, Fonterra will acquire the processing equipment, the related services, and intellectual property and trademark for the Tamar Valley Dairy brand. The acquisition is effective towards the end of November (subject to completion of the sale), with the exact date to be confirmed.

“Fonterra is a long-standing partner of Tamar Valley Dairy, and has supported and worked closely with the administrators of the family-owned business during what has recently been a difficult period for the Tasmanian business and its founders,” said Judith Swales, Managing Director, Fonterra Australia.

“The founding family has created a business with strong capability and innovation, known for producing new yoghurt formats and formulations, and in a relatively short timeframe they have built a national brand in Tamar Valley Dairy,” Ms Swales said.

Fonterra plans to invest further to improve the manufacturing assets, upgrade quality and safety systems, invest in people in the business, and build capability for further innovation in the yoghurt category.

The Tamar Valley Dairy site will be fully integrated into Fonterra’s Tasmanian and Australian manufacturing footprint, creating greater efficiencies and scale, while ensuring that Tamar Valley Dairy’s innovation and its Tasmanian origin continues.

“Fonterra is committed to the total value chain in Tasmania - from farmers, to employees, suppliers and services, and to the current and future Australian customers and consumers the world-class operation and its products will attract.

“Acquiring the Tamar Valley Dairy yoghurt business is an important step in strengthening Fonterra’s strong national position in the chilled dairy segment in Australia, and complements our existing yoghurt portfolio, where we hold a market-leading position in mainstream yoghurt through the Nestlé SKI brand.
“In reaching today’s agreement, the parties have worked closely to move the business forward, while addressing two key considerations - that the business remains in Tasmania, which Fonterra is committed to, and that as many Tamar Valley Dairy employees as possible remain employed,” Ms Swales said.

Over the next month, Fonterra will work closely with the people at Tamar Valley Dairy to determine the roles and right employees for these roles to ensure a seamless transition and continuity of operations under Fonterra ownership.
“Tamar Valley Dairy has a strong future. We see tremendous opportunities to build a sustainable, competitive business for the long term.”

In Tasmania, Fonterra operates two manufacturing facilities at Spreyton and Wynyard, and is responsible for processing over half of Tasmania’s milk. Fonterra collects almost 500 million litres of milk from almost 260 dairy farms each year, and employs 220 people. Over the last two years Fonterra has invested $20 million in these operations.

- ENDS –

© Scoop Media

 
 
 
Business Headlines | Sci-Tech Headlines

 

Mining: OceanaGold Announces Receipt Of WKP Mining Permit

MELBOURNE, Australia, Aug. 6, 2020 /CNW/ - OceanaGold Corporation (TSX: OGC) (ASX: OGC) (the 'Company') is pleased to announce it has received the mining permit for Wharekirauponga ('WKP') on the North Island of New Zealand. ... More>>

ALSO:

Economy: COVID-19 Lockdown Has Widespread Effects On Labour Market

In the June 2020 quarter, the seasonally adjusted unemployment rate fell to 4.0 percent, down from 4.2 percent last quarter, while underutilisation rose, Stats NZ said today. More>>

ALSO:

NZ Post: New Research By NZ Post Shows Online Shopping Grew 105% In Alert Level 3

New research by NZ Post into how the COVID-19 response has impacted the way Kiwis shop online, shows online shopping increased 105%* when the country moved into Alert Level 3, and may have changed the way Kiwis shop permanently. Online spend peaked ... More>>

ALSO:

Banking: Westpac NZ Lowers Merchant Fees For Small Businesses

Westpac NZ is rolling out a new merchant fee pricing structure that will lead to cost savings for more than 10,000 small and medium Kiwi businesses, and could make contactless transactions more widely available for customers. On 1 September, most ... More>>

REINZ: Million Dollar Plus Property Sales Increase 11.7% Nationally

The number of properties sold around the country for one million dollars or more during the first half (H1) of 2020 increased by 11.7% compared to H1 2019, with 5,426 million-dollar plus properties sold (up from 4,858 in H1 2019) according to the Real ... More>>

Waste: Government To Regulate Plastic Packaging, Tyres, E-Waste

The Government is stepping up action to deal with environmentally harmful products – including plastic packaging, tyres and e-waste – before they become waste. As part of the wider plan to reduce the amount of rubbish ending up in landfills, ... More>>

ALSO:


Antarctica NZ: Ice-Olation

Antarctica New Zealand is gearing up for a much reduced season on the ice this year and a very different deployment to normal! Before they head to one of the remotest places on the planet, all personnel flying south with the New Zealand programme will ... More>>

ALSO:

QV Valuations: July House Price Index Illustrates Market Resilience

According to the July 2020 QV House Price Index (HPI) results out today , property values recorded a marginal increase, up 0.2% over the month. This is somewhat of a turnaround from June, after the national index edged 0.2% lower. More>>

ALSO:

Property: Queenstown Rents Experience Biggest Drop In Seven Years

Rental prices in the Queenstown-Lakes district saw the biggest annual percentage drop in seven years after falling 28 per cent on June last year, according to the latest Trade Me Rental Price Index. Trade Me Property spokesperson Aaron Clancy said ... More>>

Seismology: The Quiet Earth

As many daily activities came to a halt during lockdown, the Earth itself became quiet, probably quieter than it has been since humans developed the technology to listen in. Seismologists have analysed datasets from more than 300 international ... More>>

RNZ: James Shaw Says Kiwibank, Not Ministers Should Decide On Investors

Climate Change Minister James Shaw says Kiwibank's decision to stop doing business with companies dealing in fossil fuels is the right one. More>>

ALSO:

FMA: Kiwis Confident Financial Markets Will Recover From COVID-19, Plan To Increase Investments

Despite the majority (60%) of investors experiencing losses as a result of COVID-19, the outlook on investing remains positive, according to a Financial Markets Authority (FMA) survey. Most Kiwis (71%) were optimistic that the pandemic will pass eventually ... More>>

FIRST Union: Warehouse Using Covid For Cover As Extensive Restructure Makes Everyone Worse Off

(FIRST Union comments on The Warehouse consultation and proposed restructure) 'Unfortunately the Warehouse have done the disappointing thing and used Covid-19 to justify a bunch of operational business decisions that will leave hundreds of workers without jobs ... More>>

ALSO: