GraceKennedy buys remaining stake in Dairy Industries for $3.15b

GraceKennedy Ltd paid $3.15 billion to acquire the remaining 50 per cent of Dairy Industries Jamaica Limited from New Zealand dairy giant Fonterra Co-operative Group, according to notes in the company’s audited December financial statements. The deal was announced in late December but the purchase price was not revealed until the release of its audited financials last week. It values the cheese maker at $6.3 billion roughly US$40 million.