Fonterra was formed in 2001 through the merger of the New Zealand Dairy Board, the export marketing arm of the New Zealand dairy industry, and two large dairy Co-operative companies – the New Zealand Dairy Group and Kiwi Co-operative Dairies.
The turnover of the company is estimated to be around EUR 5.4 billion Fonterra directly into the top ten of world’s biggest dairy industries.
The merger was resulted from concerns that the previously regulated structure of the dairy industry was not in the industry’s long-term interest.
This merger was facilitated by the DIRA (Dairy Industry Restructuring Act 2001). Fonterra has approximately 10,500 shareholding suppliers and collects around 92% of total milk production in New Zealand.
Fonterra is a well recognized international diary company which operates in over 190 markets worldwide.
Much of its product is processed d into dry powder for export. It has large operations outside New Zealand, including 11 plants in Australia, and joint venture and co-pack operations in other countries.
Fonterra Co-operative Group Limited
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