Dairy board forms Venezuelan partnership

The New Zealand Dairy Board has formed a joint venture with Venezuela-based food processor CA Industrias Lar-Carabobo.
In a statement, it was revealed that the deal will see the Board boost its sales in the r1.4 billion Venezuelan dairy market to over r280 million a year.
The business will have sales worth r114 million, generated by yogurt, fruit juice and drinking milk brands. The Boards existing facilities in Venezuela produce food for the fast food sector.
Meanwhile, New Zealand Dairy Group has hit out at plans for a merger between Kiwi Dairies and Northland Dairy (see DII 64(10)9).
Company chairman Henry Van Der Heyden said the deal would further hinder moves by the industry to bring about a mega-merger (See DII 64(9)9 and subsequent issues). Heyden argued that the level of debt carried by Kiwi would worsen if the merger went ahead