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Fonterra JV to buy Dutch partner's lactose unit

Published: Thu 31 Dec 2009 10:01 AM
Fonterra JV to buy lactose business from Dutch partner Royal FrieslandCampina
Dec. 31 (BusinessWire) – Fonterra Cooperative Group, the world’s biggest dairy exporter, said its joint venture with Royal FrieslandCampina will acquire the Dutch milk products group’s pharmaceutical lactose business for about $106 million.
Fonterra’s share of the purchase price is $53 million, the cooperative said in a statement today. The DMV-Fonterra Excipients JV will acquire the FrieslandCampina Domo-Pharma unit subject to regulatory approvals in a deal expected by March, it said.
The transaction will add value to Fonterra by creating a larger scale pharmaceutical lactose business, said Andrei Mikhalevsky, managing director for ingredients. The deal would combine the two companies’ R capabilities, he said.
(BusinessWire)

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