New Zealand’s Commerce Commission has given dairy giant Fonterra Co-operative the go-ahead to acquire from New Zealand Dairy Foods (NZDF) the Anchor, Fernleaf and Country Soft brands and associated business.

Commission chair Paula Rebstock said that the Commission was satisfied that the proposed acquisition would not have, or would not be likely to have, the effect of substantially lessening competition in the national markets for: the wholesale supply and distribution of consumer butter; and the wholesale supply and distribution of consumer yellow spreads (excluding butter).
Rank Group is a private equity investor based in Auckland. It has two operating subsidiaries: Burns Philp & Company based in Australia and NZDF. Burns Philp wholly owns Goodman Fielder, which operates in various food markets in New Zealand, including the consumer yellow spreads (excluding butter) market.