NZ's Fonterra to enter India through Future Consumer partnership

Future Consumer

08/08/2018 10:25

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.

 (Reporting by Chris Thomas in Bengaluru; Editing by Subhranshu
Sahu)
 ((chris.thomas@thomsonreuters.com; +91-80-6749-8695; Reuters
Messaging: chris.thomas.thomsonreuters.com@reuters.net))