Fonterra mulls IPO of Australian unit, exits Chile

Carrie LaFrenzSenior reporter

Updated Sep 23, 2021 – 3.59pm, first published at 9.27am

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The world’s biggest dairy exporter, Fonterra Co-operative Group, may spin off its Australian arm after a strategic review, a move which would see the business list on the ASX with a valuation expected to be north of $1 billion.

The Kiwi Co-op is owned by over 10,000 farmers and initially invested in Australia via the purchase of Bonlac Foods about 18 years ago.

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