Latest news with #Lactalis
Yahoo
5 days ago
- Business
- Yahoo
Lactalis exits Canada plant-based drinks with factory closure
Lactalis has decided to close its plant-based drinks site in Canada. The closure of the facility in Sudbury in Ontario will take effect on 12 December, marking the French dairy giant's 'full exit' from the plant-based drinks market in Canada.. Lactalis said maintaining the plant-based operations is not "financially viable" and does not represent a "sustainable business". The company had been selling plant-based drinks in Canada under the brand Enjoy. Lactalis only launched the brand last year, rolling out a six-strong line of plant-based 'high protein' drinks. However, Lactalis cited a "shift" in market dynamics and the "challenges" posed by the current economic environment as the reasons behind the closure of the Sudbury site. These factors have contributed to a "sustained decline" in the performance of the plant-based beverage category in Canada, it said. 'We are incredibly grateful to our employees in Sudbury for their dedication and contributions over the years. We also extend our sincere thanks to the city of Sudbury for its longstanding partnership and support throughout our time in the community.' Lactalis markets a variety of cheese and milk products under several brands in Canada. The brands it sells in the country include P'tit Québec, Beatrice and Lactantia. Just Drinks asked Lactalis how many jobs would be affected by the closure but the company had not commented at the time of publication. "Lactalis exits Canada plant-based drinks with factory closure" was originally created and published by Just Drinks, a GlobalData owned brand. The information on this site has been included in good faith for general informational purposes only. It is not intended to amount to advice on which you should rely, and we give no representation, warranty or guarantee, whether express or implied as to its accuracy or completeness. You must obtain professional or specialist advice before taking, or refraining from, any action on the basis of the content on our site.
RNZ News
10-07-2025
- Business
- RNZ News
Australian regulator not opposed to Lactalis buying Fonterra's Mainland Group
File image. Photo: RNZ / Cole Eastham-Farrelly Australia's competition regulator will not oppose a move by French dairy giant Lactalis to acquire Fonterra's consumer, dairy ingredients and food services businesses. Lactalis lodged an informal merger clearance application with the Australian Competition and Consumer Commission (ACCC) earlier this year. ACCC deputy chair Mick Keogh said it reviewed the potential transaction "very closely" as it would combine two of the biggest buyers of raw milk in Victoria, and may lead to further consolidation in Tasmania. "While we acknowledge the concerns raised by some representative bodies, after careful consideration we have determined that the acquisition is unlikely to result in a substantial lessening of competition," he said. The ACCC said alternative buyers of raw milk would be found in Victoria. "We found that while the industry in Tasmania is already concentrated, Lactalis has a limited presence and the acquisition would not substantially alter the market dynamics. If the acquisition proceeded, Lactalis would continue to be constrained by Saputo and, to a lesser extent, Mondelez," Keogh said. The ACCC also said a deal was unlikely to substantially lessen competition in wholesale dairy supply, such as drinking milk, cream, cheese, spreads and ingredients like milk powder. Australia's Bega Cheese - backed by billionaire Andrew Forrest - has also made contact with the ACCC over a potential deal. Keogh said the ACCC has not received contact from any other potential bidders. Forsyth Barr senior analyst Matt Montgomerie said Lactalis appeared to be the front-runner for Mainland Group, but the ACCC announcement was not an indication of whether Fonterra would accept Lactalis' bid. "News flow from other interested parties rumoured over recent months (Meiji, American private equity, Saputo and Bega) has been quiet," Montgomerie said.
AU Financial Review
10-07-2025
- Business
- AU Financial Review
Lactalis gets pre-emptive ACCC green light for Fonterra spin-off sale
French dairy giant Lactalis has been given the all-clear to bid for Fonterra's sprawling Australian food and consumer business after pre-emptively applying for approval from the competition regulator. The sale of Fonterra's consumer products business will shake up the country's agricultural industry, given many farmers already sell milk to the company and to its potential suitors like Lactalis.
ABC News
10-07-2025
- Business
- ABC News
ACCC approves merger of dairy giants Lactalis and Fonterra
The Australian Competition and Consumer Commission (ACCC) has approved a merger between the country's two largest dairy processing companies, Lactalis and Fonterra. The planned takeover of Fonterra's consumer, dairy ingredients and food service businesses by French group Lactalis would create a massive dairy company in Australia. Both companies buy and process raw milk from dairy farmers in Victoria and Tasmania. They also process and supply a range of dairy products across Australia. ACCC deputy chair Mick Keogh said the commission looked closely at the planned takeover. "It will combine two of the largest buyers of raw milk in Victoria and lead to some further consolidation in Tasmania," he said. Mr Keogh acknowledged concerns about reduced competition if the merger went ahead, but said it was not expected to significantly change market dynamics. The ACCC found that alternative buyers of raw milk would still constrain Lactalis in Gippsland, the Murray and western Victoria. "While the industry in Tasmania is already concentrated, Lactalis has a limited presence and the acquisition would not substantially alter the market dynamics." Mr Keogh said. The commission said the differing production focus of Fonterra and Lactalis meant there would be limited overlap in products.
Yahoo
10-07-2025
- Business
- Yahoo
Australia's competition watchdog to not oppose Lactalis' bid for Fonterra assets
(Reuters) -Australia's competition watchdog said on Thursday that it will not oppose Lactalis' proposed acquisition of New Zealand-based Fonterra Co-Operative Group's consumer, dairy ingredients and food service businesses. The Australian Competition and Consumer Commission's (ACCC) Deputy Chair Mick Keogh said it is unlikely that the acquisition will result in a "substantial lessening of competition." "Because Fonterra and Lactalis have differing end-product mixes, they often seek to acquire milk from farmers with different production profiles. Accordingly, we found that they are not likely to be each other's closest competitors," Keogh said. The ACCC's informal review of the French dairy group's unannounced bid for Fonterra assets in early May came after Reuters reported that companies including Japan's Meiji, Lactalis and Canada's Saputo were considering bids for Fonterra units up for divestment. Following the Reuters report, Lactalis said it has not signed any agreement regarding the potential acquisition of parts of Fonterra. Lactalis and Fonterra did not immediately respond to a Reuters request for comment. Sign in to access your portfolio
