Fonterra’s chief executive comments on the overwhelming YES vote from Fonterra farmer shareholders to sell the consumer brands business to Lactalis. The deal was expected to deliver a tax-free capital return of about $3.2 billion to 8000-plus shareholding farms throughout New Zealand. The average return to farmer shareholders would be around $392,000. That’s about 0.7% of GDP. But not everybody’s happy. Just ask Winston!

<p>Fonterra&rsquo;s chief executive comments on the overwhelming YES vote from Fonterra farmer shareholders to sell the consumer brands business to Lactalis. The deal was expected to deliver a tax-free capital return of about $3.2 billion to 8000-plus shareholding farms throughout New Zealand. The average return to farmer shareholders would be around $392,000. That&rsquo;s about 0.7% of GDP. But not everybody&rsquo;s happy. Just ask Winston!</p>

Jamie Mackay delivers your daily fix of everything going on in NZ's biggest industry, along with a generous side-serve of news, sports and politics. The Country from Newstalk ZB, Hokonui and Gold Sport.

<p>Jamie Mackay delivers your daily fix of everything going on in NZ's biggest industry, along with a generous side-serve of news, sports and politics. The Country from Newstalk ZB, Hokonui and Gold Sport.</p>

The Country

The Country 30/10/25: Miles Hurrell talks to Jamie Mackay

https://api.omny.fm/orgs/7784f840-c291-422a-924b-ad9000bbad71/clips/04aa72db-dccb-47cb-98e7-b3860002af66/transcript