trending Market Intelligence /marketintelligence/en/news-insights/trending/IRtPWeCdgEP2azDsrRWR8A2 content
Log in to other products

Login to Market Intelligence Platform


Looking for more?

Contact Us
In This List

Fonterra to sell Farm Source livestock unit to Carrfields

Amazon e-commerce sales soar amid COVID-19

Gauging Supply Chain Risk In Volatile Times

S&P Global Market Intelligence

Cannabis: Hashing Out a Budding Industry


IFRS 9 Impairment How It Impacts Your Corporation And How We Can Help

Fonterra to sell Farm Source livestock unit to Carrfields

New Zealand-based dairy cooperative Fonterra Co-op Group Ltd. said Jan. 9 that it will sell its Farm Source livestock division to Carrfields Livestock Ltd. as part of a companywide review.

Fonterra said that although the livestock division has been producing positive returns, the investment needed to maintain and grow it would be better spent in Farm Source's core areas.

Financial terms were not disclosed. Carrfields is expected to take ownership of the division by March 1 and absorb most employees. Fonterra will help relocate jobs that cannot be transferred to other parts of the co-op, the company said.

In December 2018, Fonterra said it was reviewing options for its ice cream brand Tip Top as part of the restructuring through which it hopes to reduce debt by NZ$800 million by the end of the financial year.