Fon­terra sells off Farm Source divi­sion

Bush Telegraph - - Focus On Farming -

Dairy co-op­er­a­tive Fon­terra is sell­ing its Farm Source divi­sion to Car­rfields Live­stock — a live­stock agency provider — as it re­views all as­pects of its busi­ness.

“In the con­text of the re­view of the co-op’s as­sets and in­vest­ments, we have made the de­ci­sion to sell the live­stock divi­sion to Car­rfields Live­stock. This will bet­ter serve the live­stock team and the farms they ser­vice,” said Richard Allen, Farm Source stores direc­tor.

The dairy gi­ant is re­view­ing its en­tire busi­ness as it seeks to ad­dress poor fi­nan­cial re­sults. Car­rfields will take over Fon­terra’s live­stock arm on March 1.

A Fon­terra spokesper­son said the price was com­mer­cially sen­si­tive.

PAHIATUA’S Farm Source build­ing.

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