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Australian Competition Commission Approves Lactalis Bid for Fonterra Brands

By  |  July 10, 2025

The proposed sale of Fonterra’s international consumer operations has cleared a notable regulatory hurdle, signaling growing momentum behind the dairy cooperative’s divestment strategy. The Australian Competition and Consumer Commission (ACCC) has approved a potential acquisition by French dairy giant Lactalis, stating it has no competition concerns regarding the deal’s impact on Australian markets.

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    According to a statement, the ACCC’s clearance allows Lactalis to move forward in pursuing Fonterra’s global consumer division, which includes well-known brands such as Anchor and Mainland. The businesses have been collectively named the Mainland Group as part of the sales process.

    Fonterra is managing the potential sale through a dual-track process, considering both a traditional trade sale and a possible initial public offering (IPO), per statement. While the cooperative has not disclosed its valuation expectations, some early market estimates — not attributed directly to Fonterra — have suggested the transaction could yield as much as NZ$3 billion for shareholder farmers if the assets are sold in full.

    Lactalis, which reports annual revenues of €28.3 billion, has been actively expanding its global footprint. It recently completed a US$1.2 billion acquisition of yogurt brands in the United States, reinforcing its status as the world’s largest dairy company.

    Source: Interest