The dairy giant first made a non-binding proposal to acquire Lifeway back in September last year (2024).
The acquisition is currently under review by the Hungarian state, according to the MNE’s statement.
With only 14 active dairy farms supplying 11,000–12,000 litres daily, the cooperative was no longer able to sustain industrial operations
The sale brings together Miraka’s high-quality New Zealand milk, established supplier base and customer relationships with Open Country Dairy’s scale, network, and global market reach.
The sale is subject to certain conditions, including Fonterra farmer shareholder approval, separation of the businesses and receipt of regulatory approvals.