Fonterra has sold its Australian yoghurt and dairy dessert business to Parmalat Australia for an undisclosed sum.
The sale includes Fonterra’s manufacturing facilities in the Tamar Valley (near Launceston) in Tasmania and at Echuca in Victoria, and includes Fonterra’s yoghurt and dairy dessert brands including ‘Soleil’, ‘Tamar Valley Dairy’, ‘CalciYum’ and ‘Connoisseur’ yogurt brands.
Fonterra purchased a substantial element of this business from the receiver of Launceston-based yoghurt company Tamar Valley Dairy in November 2013.
Fonterra stated that the current sale is part of a plan to “return the co-operative’s Australian business to strong and sustainable profitability”.
Parmalat Australian has reportedly now offered employment to all of Fonterra’s Echuca and Tamar Valley employees in the yoghurt and dairy dessert business.
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