AUS: Fonterra closes Ski yoghurt acquisition
This follows the New Zealand dairy giant's acquisition of Nestlé's yoghurt and dairy dessert business in September.
Under the agreement with Nestlé, the Ski brand, which was at the time under licence to Dairy Farmers, would have moved to Fonterra at the end of the existing licence period in December 2011.
The agreement with National Foods - who acquired Dairy Farmers in November last year - sees Fonterra take control of the Ski brand immediately, transferring the Ski licence three years earlier than expected.
John Doumani, managing director of Fonterra Australia and New Zealand, said yesterday's (19 January) announcement is a big step towards Fonterra achieving its strategic goal to fill the gap in the desserts category in its dairy portfolio in Australia.
"The yoghurt and dairy desserts category is one of the fastest growing in the dairy segment and the acquisition of the Ski yoghurt licence gives us a strong position in this category," Doumani said.
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