National Foods has agreed to sell the licence to yoghurt brand Ski to Fonterra, should it seal its planned acquisition of Australian dairy group Dairy Farmers.
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The deal, announced today (7 October), could see Fonterra acquire the rights to the brand earlier than planned.
In July, Fonterra agreed to buy Nestle’s Australian yoghurt and dairy dessert business. As part of that deal, Fonterra was set to get the Ski licence in 2012 when Nestle’s agreement with Dairy Farmers expired.
However, National Foods, which in August struck a deal to buy Dairy Farmers for A$910m, has agreed to sell the Ski licence, should the Dairy Farmers deal win shareholder and regulatory approval.
Under the agreement, National Foods will continue to make Ski yoghurts on Fonterra’s behalf for the next two years.
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