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Fonterra drops anchor deal in Egypt

10-Apr-2009

Related topics: Financial

Fonterra has reached an agreement with a leading Egypt-based dairy supplier for licensed production of its Anchor range of goods in the country.

Arab Dairy Products, which already works with Fonterra to manufacture processed cheese portions in a number of gulf countries like Iraq and Bahrain, will take up responsibility for the processing and distribution of Anchor cheeses in Egypt.

Amr Farghal, general manager of the New Zealand-based cooperative’s operations in the Middle East, said that with 80 million consumers in the country and a cheese retail market valued at NZ$350m (€152.3m), Egypt was a major opportunity.

“With Arab Dairy’s infrastructure, we are well positioned to reach this market through our Anchor brand, which has been very successful in other parts of this region,” he stated.

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