Photo: RNZ / Cole Eastham-Farrelly
Dairy giant Fonterra has announced its going to merge its New Zealand and Australian businesses.
In an update to the NZX, chief executive Miles Hurrell said Fonterra Brands New Zealand (FBNZ) and Fonterra Australia will merge on 1 May to form Fonterra Oceania.
"The change will strengthen our trans-Tasman offering in what is an increasingly competitive marketplace, our businesses in Australia and New Zealand have many complementary aspects and integrating them builds on these strengths," Hurrell said
"FBNZ comprises our consumer brands and foodservice businesses here in New Zealand, including brands Anchor, Mainland and Kāpiti, which will continue to utilise your milk," he said.
"The Australian milk pool will continue to provide the milk solids for our Australian brands and ingredients."
René Dedoncker, who has held several global leadership positions at Fonterra, will lead the new Fonterra Oceania team.