NZ's Fonterra to enter India through Future Consumer partnership

  • Reuters
  • Stock Market News
NZ's Fonterra to enter India through Future Consumer partnership
Credit: © Reuters.

Aug 8 (Reuters) - New Zealand dairy giant Fonterra Co-operative Group Ltd FCG.NZ has partnered with India's Future Consumer Ltd FTRE.NS to introduce its dairy products in the world's second most populous country, the companies said on Wednesday.

Fonterra (Europe) Cooperatie U.A, a unit of Fonterra Co-operative Group, and Future Consumer will form an equal joint venture, the companies said in a joint statement https://www.bseindia.com/xml-data/corpfiling/AttachLive/7bca9bde-d7a5-496f-9d2a-419544172172.pdf.

"The initial stages of the partnership will focus on product development, and marketing with the right capital investment made during this period," said Lukas Paravicini, Fonterra's chief operating officer for global consumer and foodservice.

The joint venture will launch the first consumer products by mid-2019, using both locally sourced milk and dairy products from New Zealand.

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