Fonterra, New Zealand’s leading dairy cooperative headquartered in Auckland, announced it is pursuing a dual-track strategy to divest its share in Mainland Group through either a trade sale or an IPO. The company has strengthened its board with the appointment of seasoned executive Anne to support the process.
Fonterra, New Zealand’s largest dairy cooperative, has announced a dual-track strategy to explore divestment options for its stake in Mainland Group, considering both a trade sale and an initial public offering (IPO) as viable paths.
The move comes as part of Fonterra’s broader business review and strategic focus on core operations. The company, which plays a pivotal role in the global dairy sector, is advancing regulatory preparations and initiating discussions with potential buyers to assess trade sale prospects.
To support this complex transition, Fonterra has appointed Anne, an experienced executive with more than 25 years in global banking, financial services, consumer goods, and energy. Anne has previously held governance roles with CBA Group and Blackmores Group, and now brings her expertise to the Mainland Group board.
This appointment follows the recent naming of Elizabeth Coutts as chair-elect of the Mainland Group board, reinforcing Fonterra’s commitment to strong leadership during this pivotal phase.
Fonterra Chair Peter McBride emphasized the importance of Anne’s diverse industry experience. “Her insights and leadership will be instrumental as we evaluate the best way forward for Mainland Group’s future,” he said.
The dual-track approach allows Fonterra to maintain flexibility while maximizing value, ensuring that any potential transition supports long-term shareholder and market interests.
