Fonterra reports annual loss, unveils new strategies to drive profitability

NEW ZEALAND – Fonterra reported an annual loss of NZD 605 million ($380.1 million) for the year to July as the dairy cooperative struggled with write-downs across its business amounting to NZD787m (US$497.4m). Fonterra witnessed […]

Fonterra offloads 50% stake in DFE Pharma in debt management strategy

NEW ZEALAND – Fonterra has agreed to sell its 50 percent stake in DFE Pharma, a joint venture with Royal Friesland Campina, for NZD 633 million (US$401 million). The 50% stake in DFE Pharma will be […]

Dean Foods finance chief Jody Macedonio steps down

USA – American food and beverage major Dean Foods has announced that the chief financial officer Jody Macedonio has stepped down from the position. Macedonio departure from the company comes just 19 months after her […]

Müller introduces Müllerlight gin and tonic-inspired yogurt in UK

UK – Müller has introduced a new Müllerlight gin and tonic-inspired yogurt, a high in protein fat free yoghurt containing no added sugar. With the product, which is Müller’s first ever gin and tonic inspired […]

Arla Foods to develop 100% recyclable plastic milk crates to reduce carbon footprint

DENMARK – Europe’s largest dairy cooperative, Arla Foods will be introducing milk crates made from 100 per cent recycled plastic in a move that seeks to cut on the dairy giant’s CO2 emmisons. Arla plans […]

A2 Milk appoints Race Strauss as new chief financial officer

NEW ZEALAND – The milk and infant formula products company, A2 Milk has appointed Race Strauss to the position of chief financial officer (CFO). Strauss will assume office in the second half of the 2020 […]

Chi Ltd unveils new pack design for its Hollandia Evaporated Milk brand

NIGERIA – Chi Limited, a fast moving consumer good company owned by coco-cola company has launched a new packaging design for its Hollandia Evaporated Milk brand. The new packaging shows the nutritious benefits of Hollandia […]

Danone to produce bio dairy products at Romanian factory after US$3.3m investment

ROMANIA – French dairy group Danone has invested €3 million (US$3.3m) in setting up a new product line at its Bucharest factory, southern Romania that will see the company introduce bio dairy products in the […]

Fonterra’s chairman John Monaghan due to step down in 2020

NEW ZEALAND – Fonterra’s chairman John Monaghan is due to retire as a director in 2020 and will the work with the board of the dairy giant to plan succession. Monaghan was elected to the […]

India to boost food processing sector through US$417m value addition program

INDIA – India has partnered with the World Bank in a US$417million (INR$30 billion) collaborative program that seeks to revolutionize the country’s food manufacturing sector. According to an Economic Times report, the programme will receive […]