date:Dec 17, 2015
Fonterra Co-operative Group has signed an agreement to sell its Australian yogurt and dairy dessert business to Parmalat Australia, following exclusive negotiations.
The deal is expected to be completed in the first half of fiscal 2016, after regulatory and other approvals.
The sale of Fonterra Australian yogurt and dairy desserts business includes manufacturing facilities at Tamar Valley and Echuca, as well as its brands.
This move is part of Fonterra's comprehensive strategy to return its A