Fonterra partners with Chinese dairy firm

摘要

NEW ZEALAND dairy co-operative Fonterra is partnering with Chinese infant food producer Beingmate, as it looks to meet growing demand in its biggest market. Fonterra will buy a stake of up to 20% in Beingmate as part of plans to link the Chinese company's distribution network with manufacturing sites in New Zealand, Australia and Europe. If the deal is approved by shareholders and Chinese regulators, the new partnership will set up a joint venture to buy a Fonterra plant in Australia, which will produce infant food for export to China.