(Reuters) -New Zealand’s Fonterra Co-operative Group will sell its global consumer and associated businesses to French dairy giant Lactalis for NZ$3.845 billion ($2.24 billion), the company said on Friday.
The sale includes Fonterra’s global consumer business, encompassing the operations of brands such as Mainland and Anchor butter, Kapiti ice cream and cheese and the Anlene powdered milk supplement.
The transaction also covers the dairy company’s Foodservice and Ingredients businesses in Oceania and Sri Lanka, along with its Middle East and Africa Foodservice operations.
Fonterra added that the deal value could potentially increase by NZ$375 million if the Bega licences held by its Australian business are included.
($1 = 1.7197 New Zealand dollars)
(Reporting by Himanshi Akhand in Bengaluru; Editing by Mohammed Safi Shamsi)
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