Fonterra launches foodservice business in China

Fonterra has launched its new foodservice brand called Anchor Food Professionals, according to a report by DairyReporter.com.
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The world’s largest dairy exporter aspires to grow its foodservice business to be a $5bn (€3bn) business by 2023.
Anchor Food Professionals will start in China and move on to the rest of Asia before setting up in North and South America.
In China, Fonterra has between 40% and 80% of market share, depending on product category, and over half of all pizzas in China have Fonterra cheese on top. Also, more than half of the leading bakery chains in China use Fonterra dairy products.
Fonterra has invested $250m (€150m) in market growth by expanding its manufacturing plants at four sites over the last three years in order to double its foodservice offerings.

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