No way back for Bonlac

AUSTRALIA – It seems certain Bonlac will be bought out by New Zealand dairy company Fonterra, after it announced a series of supplier meetings.

The company has announced it has reached a non-binding, in principle agreement with Fonterra, and that the details of this agreement are currently being discussed by the two companies.

The supplier meetings will begin on 8 June, and they will give supplier shareholders an update on the negotiations regarding the takeover.