Fonterra will sell its 50% stake in U.S. joint venture DairiConcepts for around 196 million New Zealand dollars (US$126 million), but said the country remains a key part of its global strategy.
Fonterra’s stake sale – due to take place at the end of this year – means Dairy Farmers of America will fully own the DairiConcepts venture, which was established 15 years ago.