date:Jun 16, 2012
Under the agreement, Fonterra will acquire NZDL's dairy factory in Studholme, South Canterbury, which has the capacity to process around 150 million litres of milk a year into milk powders for export.
In addition, NZDL's existing suppliers have been offered the opportunity to supply Fonterra on contracts, which will enable them to receive Fonterra shares after the 2012/2013 season and become shareholders within six years.
Fonterra CEO Theo Spierings said the acquisition ensures that the Studholm