New Zealand’s Fonterra Co-operative Group will sell its global consumer and associated businesses to French dairy major Lactalis for NZ$3.845 billion ($2.24 billion), causing shares to surge to a 7-year high. The deal includes brands like Mainland, Anchor butter, and Anlene powdered milk. Lactalis plans to combine Fonterra’s brands with their existing footprint in Australia and Asia. The transaction covers Fonterra’s Foodservice and Ingredients businesses in Oceania, Sri Lanka, and the Middle East and Africa. The deal, subject to shareholder and regulatory approval, is expected to close in the first half of 2026.

Read more at Yahoo Finance: France’s Lactalis strikes $2.2 billion deal for Fonterra’s consumer business