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Fonterra and Nestlé today agreed the sale of their Dairy Partners Americas (DPA) Brazil joint venture to French dairy company Lactalis for BRL 700m (approximately NZD $210m subject to closing transaction adjustments). The deal is expected to be completed by mid-2023, subject to regulatory authority approvals.

Fonterra Co-operative Group Ltd today upgraded its earnings guidance to 50 – 70 cents per share from 45 - 60 cents per share and lowered and narrowed its forecast Farmgate Milk Price range of $8.50 - $10.00 per kgMS to $8.50 - $ 9.50 per kgMS, with a midpoint of $9.00 while holding its advance rate. It also reported a strong start to the 2023 financial year.

Fonterra can today confirm that its new Flexible Shareholding capital structure is set to be implemented in late March 2023, subject to the Board being satisfied that the relevant preparations are completed before then.

Today Fonterra Co-operative Group announced the appointment of Neil Beaumont to the role of Chief Financial Officer, effective early February 2023.

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Fonterra today announced a strong set of results for the financial year ending 31 July 2022, reflecting a 2021/22 Farmgate Milk Price of NZ$9.30 per kgMS and normalised profit after tax of NZ$591 million.

Fonterra Co-operative Group Limited today announced it has revised its 2023 forecast earnings guidance to 45 to 60 cents per share, up from 30 to 45 cents per share.

Fonterra is taking another step in implementing its strategy to be a leader in nutrition science and innovation with the launch of a new wellbeing solution brand, Nutiani.

Fonterra and Royal DSM, a global purpose-led science-based leader in health and nutrition, are establishing a new start-up company to accelerate the development and commercialisation of fermentation-derived proteins with dairy-like properties.