Update on divestment of Consumer and associated businesses
26 August 2025
Update on divestment of Consumer and associated businesses
Fonterra Co-operative Group Limited has today announced that the dispute with Bega Cheese
Limited in relation to the Bega licences has been resolved.
Bega agrees that the structure of the sale to Lactalis of Fonterra’s global Consumer and
associated businesses does not constitute a change of control under the Bega licences.
As a result, the Bega licences held by Fonterra’s Australian business will be included in the
divestment.
As previously announced, Lactalis will pay Fonterra $375 million for the Bega licences in addition
to the $3.845 billion base enterprise value, bringing the total proceeds for the sale of the Consumer
and associated businesses to $4.22 billion.
Fonterra has agreed to pay Bega’s legal costs to resolve the dispute.
ENDS
For further information contact:
Philippa Norman
Fonterra Communications
Phone: +64 21 507 072
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