Bonlac future may lie under Fonterra

Bonlac looks as though it may have to consider a merger with New-Zealand dairy company Fonterra as it struggles to deal with its massive debts.

Bonlac has advised its supplier shareholders that it is in ongoing discussions with Fonterra, regarding a way forward for the company.

In a letter to the supplier shareholders, Bonlac’s chairman Noel Campbell said the company had been looking at a number of ways to improve the company’s turnover.

“The Bonlac board remains determined that any strategy we adopt is aimed at achieving the long-term sustainability of the business, a competitive milk price, full value for Bonlac shares and the recommencemen