Fonterra to take share in Bonlac

AUSTRALIA/NEW ZEALAND – Bonlac Foods has announced it has signed an agreement with New Zealand’s Fonterra, whereby Fonterra will take a 50% share in the company.

The other 50% will be held by Bonlac Supply Company, the co-operative of Victorian and Tasmanian dairy farmers who supply milk to Bonlac. Fonterra currently owns 25% of Bonlac Foods and Bonlac Supply Company owns the rest.

The move will help ease Bonlac’s debts: the movement of shares will negate the