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# Fonterra farmers back $4.2b sale of Anchor/Mainland to Lactalis
- URL: https://goodoil.news/fonterra-farmers-back-4-2b-sale-of-anchor-mainland-to-lactalis/
- Published: 2025-10-31T00:26:57.000Z
- Updated: 2025-10-31T01:21:26.000Z
- Description: A “strong mandate”.
- Author: Centrist
- Tags: News

Summarised by [Centrist](http://www.centrist.nz/?ref=goodoil.news)

**Fonterra’s 9000-plus shareholder-farmers voted 88% in favour of selling its consumer brands (including Anchor and Mainland) to France’s Lactalis for $4.2b, clearing the 50% threshold.** 

The co-op says the deal will refocus Fonterra on ingredients and higher-value B2B products, with chair Peter McBride calling it a “strong mandate” and a step toward a simpler, more focused business. ASB estimates proceeds at about $4.5b, implying an average tax-free payout near $392,000 per farmer if completed.

Criticism came from NZ First leader Winston Peters, who called the move “economic self-sabotage” and warned about future milk-supply risk as contractual terms allow Lactalis to give three years’ notice after year three. Supportive industry reactions framed the vote as farmer democracy; Rabobank’s Emma Higgins said the result “green-lights” reshaping the co-op, and Federated Farmers’ Karl Dean said many will reinvest in farming.

Completion depends on regulatory approvals and separating the Mainland Group from Fonterra; the parties target the first half of 2026.

[**Read more over at RNZ**](https://www.rnz.co.nz/news/business/577289/farmers-vote-to-sell-fonterra-s-mainland-anchor-brands?cid=newsletter&ref=goodoil.news)

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