PwC New Zealand drew on deep local and global expertise to assist Fonterra Co-operative Group in the sale of its consumer and associated businesses to dairy group Lactalis for $4.22 billion NZD.
The sale, which is subject to shareholder approval and regulatory approvals, includes Fonterra’s global consumer business (excluding Greater China) and Consumer brands and associated operations in Oceania, Sri Lanka, and the Middle East. In addition, the Bega Cheese licences, held by Fonterra’s Australian business, are included in the sale.
PwC partner Ian McLoughlin says the firm is part of the team assisting with the divestment, which is one of the largest ever executed in New Zealand. PwC’s role includes advising on financial preparation, accounting advisory, and assisting with commercial arrangements.
“We are proud to have been part of advising Fonterra in the milestone sale of its Consumer businesses. PwC’s delivery across 12 workstreams and multiple capabilities demonstrates PwC’s leadership in transformational transactions,” McLoughlin said.
“PwC mobilised deep subject matter expertise across the UK, Asia, the Middle East, and Australia to address both business separation and technical execution. The combination of global expertise, coupled with strong local relationships and on-the-ground delivery, enabled PwC to become the trusted partner in this momentous deal,” McLoughlin said.
