First Milk Acquires Fonterra’s 51% Stake in Fast Forward Joint Venture
First Milk, a wholly British farmer-owned dairy co-operative, has agreed to purchase Fonterra’s 51% share of its Fast Forward joint venture, established in 2011, and has entered a new strategic partnership with Havero Hoogwegt for global WPC80 sales and distribution. From July 2019, First Milk will be the sole owner of the whey protein concentrate manufacturing facilities based at its Lake District Creamery.
Havero Hoogwegt, a global specialist in dairy proteins, supplies proteins to over 50 countries. It is part of the Hoogwegt Group, the world’s largest privately-owned dairy ingredients provider, and an existing First Milk partner.
Shelagh Hancock, chief executive of First Milk, comments: “The added value protein market continues to grow with applications for high-quality whey products, such as WPC80, in the expanding sports nutrition and functional foods categories. We are delighted to take over full ownership of our well-invested whey processing facility at our Lake District Creamery and to confirm our new sales and distribution partnership with Havero Hoogwegt. Backed by their unique global network and team of commercial, technical and logistics experts, I am confident they are well-placed to maximise the market potential of our WPC80 production for mutual benefit.”
Freek-Jan van der Puijl, managing director of Havero Hoogwegt, adds: “We see First Milk as an experienced producer of WPC of consistently high quality and with a good reputation. We are proud to enter this partnership, which enables us to further grow and strengthen our global market position, allowing us to create best value for our partners.”
