Fonterra, a New Zealand-based multinational dairy company, is progressing with the divestment of its global Consumer business, Fonterra Oceania, and its Sri Lanka operations. The company is pursuing a dual-track strategy involving a trade sale or an initial public offering (IPO). Key appointments to the Mainland Group Board indicate preparations for a potential IPO, while regulatory processes are underway for trade sale prospects.
Fonterra, headquartered in Auckland, New Zealand, and known globally for its dairy exports and farmer-owned co-operative model, is advancing its dual-track divestment strategy. The company is in the process of divesting its global Consumer business, Fonterra Oceania, and Sri Lanka operations. The two pathways under evaluation include a trade sale and an initial public offering (IPO).
As part of IPO preparations, Anne Templeman-Jones has been appointed Chair-elect of the Audit and Risk Committee for the Mainland Group Board. Her extensive leadership experience across banking, consumer goods, and energy sectors strengthens Fonterra’s governance structure. Templeman-Jones has previously served on the boards of CBA Group, Blackmores Group, and Worley Limited.
This move complements the earlier appointment in March of Elizabeth Coutts ONZM as Chair-elect of the Mainland Group Board, reinforcing the company’s strategic direction.
Fonterra Chair Peter McBride emphasized the importance of robust leadership as the cooperative explores both divestment options. On the trade sale front, the company confirmed that some interested buyers have begun seeking regulatory approvals, a procedural step in finalizing major acquisitions.
These developments are seen as pivotal in shaping Fonterra’s future direction, with the dual-track strategy offering flexibility and maximizing shareholder value.
