New Zealand farmers agree to sell dairy coop Fonterra's consumer business to France's Lactalis

New Zealand farmers agree to sell dairy coop Fonterra's consumer business to France's Lactalis

 William WEST

Farmers who own New Zealand dairy cooperative Fonterra voted Thursday to sell its consumer business to French group Lactalis, a decision slammed by the country's foreign minister as "utter madness".

Final farmer votes were cast in a virtual meeting in the morning, with 88.5 percent of the total ballot cast in favour of the sale of Fonterra's global consumer and associated businesses, Fonterra said in a statement.

Originally published on doc.afp.com, part of the BLOX Digital Content Exchange.

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