Neal, Gerber & Eisenberg LLP represented Fonterra Co-operative Group Limited in its sale of a 50 percent joint venture interest in DairiConcepts. Our client sold its interest to its joint venture partner Dairy Farmers of America (DFA) for approximately $133 million. The purchase agreement was executed November 18, with the transaction closing on December 31.
The Neal Gerber Eisenberg team was led by Joshua A. Klein and Thomas C. McDonough, with assistance from Chloe A. Milstein, Calida A. Taylor, Jeffrey J. Bakker, Michael J. Hughes, Gerald A. Golden, Betsy C. Thelen, Mark J. Horne, Angela R. Elbert, Scott J. Fisher and Eric Y. Choi.
The DairiConcepts partnership was established in 2000 when Fonterra contributed Key Ingredients, its U.S. dairy/cheese flavors business, and DFA contributed a number of cheese and cheese-powder assets.