August 8, 2018 / 9:26 AM / 4 months ago

NZ's Fonterra to enter India through Future Consumer partnership

Aug 8 (Reuters) - New Zealand dairy giant Fonterra Co-operative Group Ltd has partnered with India’s Future Consumer Ltd to introduce its dairy products in the world’s second most populous country, the companies said on Wednesday.

Fonterra (Europe) Cooperatie U.A, a unit of Fonterra Co-operative Group, and Future Consumer will form an equal joint venture, the companies said in a joint statement here

“The initial stages of the partnership will focus on product development, and marketing with the right capital investment made during this period,” said Lukas Paravicini, Fonterra’s chief operating officer for global consumer and foodservice.

The joint venture will launch the first consumer products by mid-2019, using both locally sourced milk and dairy products from New Zealand. (Reporting by Chris Thomas in Bengaluru; Editing by Subhranshu Sahu)

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