Fonterra Co-operative Group has agreed to sell its global consumer and associated businesses to France's Lactalis for NZD 3.845 billion (approximately $2.2 billion). The deal could increase by an additional NZD 375 million if Bega licences from Fonterra's Australian business are included. Fonterra aims for a tax-free capital return of NZD 2.00 per share through this transaction. The sale marks a strategic move by Fonterra to refocus on its core milk processing operations. Lactalis, led by French billionaire Emmanuel Besnier, will acquire the consumer units as part of its expansion in the dairy sector.