New Zealand dairy giant Fonterra has said its consumer business, New Zealand Milk, is to be renamed Fonterra Brands.

The company said the change reflects that its core business is brands and provides a greater association with the Fonterra name.

Fonterra Brands’ managing director Sanjay Khosla said the timing is right for the move because the Fonterra name has been out in the global market for nearly four years.

“We are talking strength by association. Today, if you go into a supermarket anywhere in the world, you see many of the major consumer brands carrying the logos of the major companies that are behind them.

“By contrast, if one of our shareholders went into a supermarket today and wanted to buy Fonterra brands, they would be relying on their memory,” Khosla said.