Fonterra said it was still looking at a trade sale of all or part of the consumer division, or an initial public offering of shares. Photo: Photo / AFP
Dairy co-operative Fonterra is still on fence how best to sell off its consumer businesses.
The company said it was still looking at a trade sale of all or part of the consumer division, or an initial public offering of shares.
If Fonterra decided to go ahead with an IPO, it will be made under the corporate brand of Mainland Group, to be led by chief executive René Dedoncker and chief financial officer Paul Victor.
Fonterra chief executive Miles Hurrell said the co-op was committed to creating the most value for farmers.
"We are clear on our strategy and have a pathway to grow further value for farmer shareholders and the New Zealand economy through our innovative foodservice and ingredients businesses," Hurrell said.
"At the same time, we recognise the responsibility we have to find the right steward for iconic brands such as Anchor, Mainland and Western Star and an ownership structure that allows these businesses to continue to grow."
Fonterra had been reviewing the options since November, and would put the trade sale and IPO options to farmer shareholders for a vote.
"As part of the trade sale process, over the coming weeks Fonterra will be engaging with potential buyers of the consumer and associated business," Hurrell said.
"We recognise the ongoing interest in the divestment process and will provide further updates as we make progress."
