New Zealand dairy cooperative Fonterra has taken a stake in Lithuanian dairy business Rokiskio Suris.
It has paid NZD11.7m (US$8.5m) for a 10% stake.
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The companies have been commercial partners for several years, with Fonterra sourcing raw material from Rokiskio Suris to make speciality products in Europe. It needed the investment injection to help it expands its export operations.
Rokiskio Suris has a number of factories, including two in neighbouring Baltic country Latvia.
Dalius Trumpa, chairman of the board of Rokiskio Suris, said: “Fonterra is a leading global company, and by becoming a shareholder of Rokiskio Suris it lifts our company to the very different, global level.”
Rokiskio makes cheese, butter, whey protein and milk powders.
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By GlobalDataFonterra is a New Zealand multinational dairy co-operative owned by around 10,500 New Zealand farmers.
