Fonterra

Fonterra Co-operative Group Limited
Fonterra
Company typePublicly listed cooperative
IndustryManufacturing, retail
PredecessorsNew Zealand Dairy Group
Kiwi Co-operative Dairies
Founded16 October 2001; 22 years ago (2001-10-16)[1]
Headquarters
Auckland
,
New Zealand
Area served
Worldwide
Key people
Miles Hurrell, (CEO) [2]
ProductsMilk, butter, cheese, yoghurt
Brands
RevenueIncrease NZ$22.95 billion (2022)[3]
Increase NZ$1.02 billion (2022)[3]
Decrease NZ$0.58 billion (2022)[3]
Total assetsIncrease NZ$18.78 billion (2022)[3]
Total equityIncrease NZ$6.91 billion (2022)[3] (Revenue and Operating income is from continuing operations)
Number of employees
19,608[4]
Websitewww.fonterra.com

Fonterra Co-operative Group Limited is a New Zealand multinational publicly traded dairy co-operative owned by New Zealand farmers.[5] The company is responsible for approximately 30% of the world's dairy exports[6] and with revenue exceeding NZ $22 billion,[3] making it New Zealand's largest company. It is the sixth-largest dairy company in the world as of 2022, as well as the largest in the Southern Hemisphere.[7]

Fonterra was established in October 2001 following the merger of the country's two largest dairy co-operatives, New Zealand Dairy Group (NZDG) and Kiwi Cooperative Dairies, with the New Zealand Dairy Board. The name Fonterra comes from Latin fons de terra, meaning "spring from the land".[8]

  1. ^ "Fonterra Co-operative Group Limited (1166320) – Companies Office". Ministry of Business, Innovation and Employment. Retrieved 7 September 2014.
  2. ^ "Fonterra Management Team". Retrieved 10 October 2022.
  3. ^ a b c d e f "Financial Statements 2022". Retrieved 13 October 2022.
  4. ^ "Fonterra Annual Review for the year ended 31 July 2022". Retrieved 22 September 2022.
  5. ^ "Fonterra Annual Review 2022". Fonterra Co-operative Group. 5 September 2016. Retrieved 22 September 2022.
  6. ^ "NZX launches milkpowder futures". National Business Review. NZPA. 4 June 2009. Archived from the original on 18 November 2014. Retrieved 30 September 2011.
  7. ^ See list of world's largest dairy companies; all of the companies listed as bigger than Fonterra are owned by countries in the Northern Hemisphere.
  8. ^ "Company overview". Fonterra Co-operative Group. Archived from the original on 1 October 2012. Retrieved 28 August 2014.