Fonterra unveils divestment plan
Fonterra is exploring full or partial divestment options for its global Consumer business, as well as its integrated businesses Fonterra Oceania and Fonterra Sri Lanka.
New Zealand milk will be used for a new certified organic grass-fed infant formula offering by Bubs Australia Ltd.
Beingmate will be the distributor in China but in a partnership agreement with Bubs, not Fonterra.
Bubs says itwill be the first company to offer Australian made certified organic grass-fed infant formula, after entering into a supply agreement with Fonterra Australia to produce Bubs Organic new infant formula range.
Fonterra will supply Bubs with organic milk powder, sourced from its organic milk pool in New Zealand, which will be manufactured at its plant in Darnum, Victoria.
The conditional supply agreement runs for an initial term until July 31, 2021.
The Bubs Organic new range of infant formula will be available in Chemist Warehouse pharmacies throughout Australia within three months. Export to China’s cross-border eCommerce channel will follow shortly afterwards.
Bubs recently bought Australia Deloraine Dairy, an infant formula plant that is approved by CNCA (China’s certifying authority). Pending approval the new range of formula may be physically distributed to China’s Mother and Baby stores.
Kristy Carr, Bubs Australia founder and chief executive says in a statement: “Premium product offerings are the fastest growing segment of the infant formula category, and we are now able to offer two nutritional options – organic and goat, to suit individual dietary needs. This will tap into the global consumer trend towards natural, sustainable and organic food production.
“Bubs is a key player in the goat dairy infant formula sector in Australia and has made inroads into China. It can now offer an Australian made certified organic grass-fed infant formula with both prebiotics and probiotics, in addition to Omega-3 DHA and Omega-6 ARA.”
Bubs told the Australian stock exchange that it has agreements with Beingmate, Alibaba’s Tmall and Chemist Warehouse.
The joint venture with Beingmate is to distribute and promote Bubs goat and organic cow milk infant formula “throughout Beingmate’s network covering 30,000 Mother and Baby stories in China”.
Bubs Australia holds a 49% interest in the joint venture which will run for an initial term of 10 years.
South Waikato farm manager Ben Purua’s amazing transformation from gang life to milking cows was rewarded with the Ahuwhenua Young Maori Farmer award last night.
Bankers have been making record profits in the last few years, but those aren’t the only records they’ve been breaking, says Federated Farmers vice president Richard McIntyre.
The 2023-24 season has been a roller coaster ride for Waikato dairy farmers, according to Federated Farmers dairy section chair, Mathew Zonderop.
Ministry for Primary Industries (MPI) director general Ray Smith says job cuts announced this morning will not impact the way the Ministry is organised or merge business units.
Scales Corporation is acquiring a number of orchard assets from Bostock Group.
Family and solidarity shone through at the 75 years of Ferdon sale in Otorohanga last month.