Fonterra is considering selling its Tip Top ice cream brand:
Chairman John Monaghan said it was looking at its ongoing ownership of Tip Top and had appointed FNZC as an external advisor to consider a range of options.
“We want to see Tip Top remain a New Zealand based business and this is being factored into our options,” Monaghan said.
“While performing well, Tip Top is our only ice cream business and has reached maturity as an investment for us. To take it to its next phase successfully will require a level of investment beyond what we are willing to make.” . .
Fonterra shareholder Matthew Herbert has started a petition opposing the sale:
Fonterra is looking at selling off it’s Tip Top ice cream brand.
Kiwi’s eat more ice cream per person than any other country on earth.
Tip Top ice cream is one of the biggest links between fresh New Zealand milk from Fonterra farmers, and people who live in our cities.
Sign the petition and help farmers save Tip Top from the chopping block!
Lets tell Fonterra to hold onto Tip Top and keep our delicious ice cream going from farm to freezer.
I’m not opposed to the idea of selling the company.
Fonterra needs to reduce debt. If it can’t make the investment needed to take the company further then it is better to sell it to others who can, and sell it at the best price it can get.
But why not give Fonterra shareholders first option to buy Tip Top?