UK: Dairy Crest eyes formula with Fonterra, Fayrefield Foods
Fayrefield FD John Beech, Fonterra CEO Theo Spierings and Dairy Crest CEO Mark Allen
Dairy Crest's deal with Fonterra will see the New Zealand dairy giant sell the demineralised whey powder made at the UK firm's site in Davidstow in Cornwall.
The company is also spending GBP20m at Davidstow to produce galacto-oligosaccharide, a lactose-based prebiotic used in infant formula. UK-based dairy firm Fayrefield Foods will supply an enzyme used in the ingredient and "other intellectual property". Fonterra will provide the lactose and market the prebiotic.
Commercial production of the whey powder is expected to begin "early" in Dairy Crest's 2015/16 financial year. Dairy Crest will start manufacturing the galacto-oligosaccharide later that year.
Mark Allen, Dairy Crest's chief executive, said the deals gave the owner of UK brands including Frijj milkshake and Country Life butter "exposure to global growth opportunities".
"Demineralised whey powder and GOS form an important part of Dairy Crest’s strategy to grow added value sales," he said.
Fonterra is the world’s largest milk processer in the world, and in 2012 was ranked fourth in Rabobank’s Global Dairy Top 20. Fonterra has posted impressive half yearly results in 2013, showing a 33% ...
Fonterra is ranked in the top 21 among dairy players. However, this is due for the most part to its strong presence in Australasia. The company is looking to diversify, investing in a China-based dair...
Fonterra is ranked in the top 20 among dairy players. However, this is due for the most part to its strong presence in Australasia. The company is looking to diversify, investing in a China-based dair...
Fonterra Brands (New Young) Pte Ltd plans to promote its products by sponsoring cooking events, seminars or competitions and by sharing the recipes with dairy products and butter. The majority of its ...
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