‘Giving it away’: Winston Peters lays into Fonterra over sale of iconic brands
New Zealand First leader Winston Peters is demanding answers from Fonterra over the sale of its consumer businesses to French dairy giant Lactalis.
But the co-operative has said those answers were already publicly available.
Fonterra has agreed to sell major brands like Mainland and Anchor for $3.845 billion.
The inclusion of Bega licences held by Fonterra’ Australian business brings the total proceeds for the sale of consumer and associated businesses to $4.22b.
The sale includes a long-term agreement for Fonterra to sell milk and ingredients to Lactalis.
Winston has been reading The Daily Blog!
As TDB has been pointing out for sometime now…
Fonterra’s $4.22 billion sale to Lactalis raises long-term concerns, professor says
A leading agriculture professor is warning about potential risks from Fonterra’s billion-dollar sell-off of its consumer brands.
Last month, Fonterra announced the sale of its consumer businesses, including brands Mainland and Anchor, to French company Lactalis for $4.22 billion.
While the sale will see farmers get a cash boost with a tax-free return of $2 per share, academics fear Fonterra is losing its value-add capacity.
Alan Renwick, an agriculture and economics professor at value-adding, said the sale will create problems in the long run.
“They’re getting a very good price [but] we are giving up something for this money, and that is the value-adding part of the business, the consumer side.
“We do need to consider what we’re giving up, these future earnings and value added that those brands, the policy now will be to focus down on their ingredients and food service.
“So, we’re putting our eggs in one basket and moving away from having a more diversified business.”
…’Value added productivity’ is a myth, welcome to Basic Bitch NuZilind!
We keep getting told we feed 40million, but that number is based on us selling milk powder as a base line ingredient filler for the manufactured food industry. The PR spin pretends it’s wholesome NZ cheese and milk and meat those 40million are eating when the truth is the vast majority of what we export is basic bitch milk powder used as a filler ingredient!
The vast majority of our export dairy is milk powder used as an ingredient filler in the heavily processed food manufacturing industry, all that value added grift was to sell our green credentials, but the Dairy Industry is so polluting that they’ve decided it’s easier and less political fall out if it dumps the pretence of environmentalism and just produces mass milk powder for food so drenched in fat and sugar that unsustainable dairy is the least of their sins.
Fitch Ratings analysts warned NZ this year that the next 10 years of economic growth was dangerously stunted.
This matters because it is ratings analysts like Fitch who warn the market if we are good for all the money we borrowed.
They base that on future projections of our economic cycle and their analysis is terrible.
Fitch have made clear to us that Dairy, Tourism and exports to China have waned and can not grow beyond the manner in which we have already grown them.
Regressing back into being a base ingredient producer with no added value be it milk powder, live cow exports or raw logs, is not a solution.
Good to see Winnie is reading TDB.
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Yes, but he is talking with his forked tongue as he does not care about climate change or destroying our environments with drilling, seabed mining, selling of Doc land etc and we all know he is drumming up support for his NZF party for the 2026 election hoping once again to be in the box seat. And let’s hope he isn’t frankly I am sick of the divisive old coot and his wily ways.
Who’s crying over spilt milk from NZ – to be honest all governments have combined to set up an agency called colloquially ‘Lapitup’?!
Not sure the professor has added any value to anything in his life.
In 2001 the government announced Fonterra being formed to create the Nestle of the southern hemisphere…/ just as Nestle were divesting all their low margin food and dairy businesses.
Good ol Labour mistiming the markets.
Crying over spilt milk.
Winston Peters reads this?
Could this message possibly be the deciding one — that, yes, he is CRUEL and he and his supporters actively long term hated my family hence he is against Democracy.
1. By his inability/unwillingness to respond to this confrontation.
2. If he does, let’s have it out here.
Please, TDB?
They have stopped my texting. I had a pack. Gone.
I don’t know how a silly little thing like me could’ve been over the target many times over since February ’22.
Ask Bob. He knows what makes a perfect family and how to punish into oblivion when he sees one. I hate that man. Now I’m with Seymour.
Clearly Winston is Lactalis intolerant.
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