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FrieslandCampina Acquires Stake in New Zealand Milk Processor

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FrieslandCampina Acquires Stake in New Zealand Milk Processor

FrieslandCampina Acquires Stake in New Zealand Milk Processor
July 15
14:03 2013

Royal FrieslandCampina has purchased a 7.5% interest in Synlait Milk, a dairy company located in New Zealand’s South Island, near Christchurch. Completion of the transaction is subject to listing of Synlait Milk on the New Zealand Stock Exchange, which is expected to occur on 23 July 2013.

Synlait Milk plans to use the capital raised from the initial public offering to finance, among other things, a new spray dryer and an on-site blending and consumer packaging plant. By acquiring this interest, FrieslandCampina is supporting the company’s growth ambitions.

Roelof Joosten, chief operating officer of FrieslandCampina Ingredients, says: “In recent years, we have developed a close working relationship with Synlait Milk, a supplier of high-quality raw materials. With this investment, we are supporting our supply of raw materials and also the growth of Synlait Milk.”

Synlait Milk began processing milk in 2008 and currently has the capacity to process 550 million litres of raw milk, which it procures from around 155 dairy farms in the Canterbury region, into approximately 95,000 metric tonnes of products each year. The company focuses exclusively on business customers.


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