this post was submitted on 30 Oct 2025
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Farmers vote to sell Fonterra's Mainland, Anchor brands (www.rnz.co.nz)
submitted 2 weeks ago by Dave@lemmy.nz to c/newzealand@lemmy.nz
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Fonterra's farmer shareholders have voted overwhelmingly in favour of the sale of the brands like Mainland and Anchor to a French company.

More than 88 percent of the votes cast at a special meeting backed the $4.2 billion sale to French dairy giant Lactalis.

ASB Bank estimated the sale proceeds would ultimately be worth about $4.5b to the economy, with farmer shareholders receiving an average tax-free payout of about $392,000 if the sale went ahead.

The sale to the world's biggest dairy group, French-based Lactalis, is the final step in Fonterra's transition to a slimmed-down New Zealand-based supplier of raw ingredients and high-value products to other manufacturers.

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[–] Dave@lemmy.nz 1 points 2 weeks ago

Ah thanks. So farmers have to hold 33% of what they supply (measured in dollars of milk to value of shares I guess??), but can hold up to 4x.

So the average payout might be $400k, but it's likely new farmers or those struggling will get much less, and the wealthy successful farmers that could afford to buy more shares will get a lot more.