Nestle’s acquisition of Fonterra ice cream businesses is approved
Nestle Australia has received competition approval to acquire some of Fonterra’s Australian ice cream businesses.
Australian Competition and Consumer Commission (ACCC) approved acquisition of the Peters brand and the national Connoisseur brand from Fonterra.
According to the ACCC, the acquisition would not provide Nestle with a dominant position as the company does not have a significant share of the market.
After the deal is closed, Fonterra intends to focus on the categories of cheese, spreads, yoghurts and dairy desserts in Australia.
Popsop.com
1 July 2009
Tags: food, ice cream, Nestle
