The New Zealand Commerce Commission today (23 February) announced that it will allow dairy producer Fonterra to purchase Kappi Fine Foods and United Milk from Wellington-based grocery cooperative Foodstuffs.
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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 any of the relevant markets.
The deal secures for Fonterra Kapiti’s milk and ice cream production unit and cheese factory, as well as contracts to supply the Pam’s milk and cream brand to supermarkets throughout the lower North Island.
