March 9, 2026

Fonterra declares deal to sell Mainland Group to Lactalis unconditional

Fonterra Co-operative Group Ltd has confirmed on March 6 that the agreement to sell its global consumer and associated businesses, Mainland Group to Lactalis for $4.22 billion is now unconditional.

All required regulatory approvals have been received and the separation of Mainland Group from Fonterra is complete.

With all conditions of the sale satisfied, Fonterra and Lactalis will now proceed to complete the transaction.

In February, Fonterra shareholders voted to approve a capital return of $2.00 per share to shareholders and unit holders following completion of the transaction.

Fonterra can  advise that it expects the record date to be eligible for the capital return to be April 9, 2026 and the payment date to be April 14, 2026, based off the transaction completing at the end of March 2026.

Fonterra will confirm the capital return record date and payment date when the transaction completes.

- Fonterra