FrieslandCampina has acquired a 7.5% interest in New Zealand’s Synlait Milk.
Synlait Milk plans to use the capital raised to finance, among other things, a new spray dryer and an on-site blending and consumer packaging plant. By acquiring this interest, FrieslandCampina said that it is supporting the company's growth ambitions.
“In recent years, we have developed a close working relationship with Synlait Milk, a supplier of high-quality raw materials,” said Roelof Joosten, chief operating officer of FrieslandCampina Ingredients. “With this investment, we are supporting our supply of raw materials and also the growth of Synlait Milk.”
Synlait Milk began processing milk in 2008 and currently has the capacity to process 550 million litres of raw milk, which it procures from around 155 dairy farms in the Canterbury region, into approximately 95,000 metric tonnes of products each year. The company focuses exclusively on business customers.
