Revamped Fonterra to be ‘more capital-efficient’
Fonterra chair Peter McBride says the divestment of Mainland Group is their last significant asset sale and signals the end of structural changes.
Don’t get me wrong, this article isn’t a sneaky IQ test. It’s a simple, opportunistic shout-out for Fonterra returning to its roots and being where the action is in smart dairy. That’s here in Waikato.
Before I get shot down, direct all criticism to me at This email address is being protected from spambots. You need JavaScript enabled to view it..
I’m the friendly chief executive of the Waikato Chamber of Commerce and Industry, meaning I’m a shameless salesperson for Waikato and Waikato business.
So Fonterra, this is my sales pitch for you to move your HQ back to Hamilton, where we would support you and promote you. And you would be in the rural heartland to show off what you do to international visitors, etc.
“But we need to be in Auckland,” we hear you saying. “Just as Google, Apple and Amazon are all headquartered in New York.”
No, hang on a minute. They are headquartered pretty much where the opportunity is and pretty much where they started.
Now, Fonterra, you must know -- as any good salesperson knows -- that you need a product people want to buy, so we suggest you adopt the following 7-point sales pitch:
1. Smart Agri IT
2. Smart Agri IT
3. Smart Agri IT
4. A massive sports industry they loves your protein.
5. A quaternary sector that would make any region proud regarding thinking (look up quaternary if you don’t know the word; it’s much smarter than tertiary)
6. Agri lawyers, accountants, etc
7. Lots of farmers.
We want you to visit us here to discuss the opportunity presenting to you. We know you have lots of staff, etc, so we’ll take it slowly and wait for your leases to run out in Auckland.
Seriously, we are open to discussing this because we are among your big supporters and we passionately believe in our region.
BTW I’m not a yokel bumpkin pushing this idea. I’m a former director of the Government research unit in Parliament and I spent time with Sir Dryden Spring, former chair of NZ Dairy Board, understanding the protein economy. I was then an economic and trade advisor to the Japanese Ambassador and rounded out my time in Wellington working in the Australian Embassy as an international operations advisor where I pushed the protein story. I’ve come home to support Waikato and my brother is a dairy farmer.
I’m serious about your opportunity to be part of the disruption we need in Hamilton/Waikato, to put us on the map. I’d be proud to have a lunch with you and I’m happy to pay.
