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Fonterra worth over $2 billion and set to grow

Author
Newstalk ZB staff,
Publish Date
Tue, 17 Oct 2017, 5:10am
(Photo \ Getty Images)
(Photo \ Getty Images)

Fonterra worth over $2 billion and set to grow

Author
Newstalk ZB staff,
Publish Date
Tue, 17 Oct 2017, 5:10am

Fonterra's Foodservice business has exceeded the two billion dollar mark and the co-operative has ambitions of more than doubling that.

Anchor Food Professionals is now New Zealand’s sixth biggest export business.

Fonterra spokesman Grant Watson said they have strong growth coming out of China and South East Asia and they have just entered the US market.

"The food service business globally is expected to be $3 trillion by 2021. Our ambition is to become a $5 billion business, all of which is added value to Fonterra and a be a $5 billion business by 2023."

Watson said it's a result of chefs on the ground working with customers and a great range of products.

"Including our extra stretch mozarella, some highly function cooking cream, special butters for pastry and a very functional cream cheese."

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