Delivering calm in the kitchen
Fonterra’s Foodservice business, Anchor Food Professionals (AFP), has reached a milestone to become a $3 billion NZD annual revenue business. Fonterra CEO Miles Hurrell says the success is down to the Co-op’s strong connection to customers who value our sustainably produced, high-quality, nutritious milk and innovative products. “It’s really pleasing to see this milestone be reached despite the impact of COVID-19 on restaurants and other out-of-home eating. Our people have worked hard to find new ways of working with customers and new product applications to suit the pandemic environment, and we can see this has been a success. “Foodservice is a high value channel for our farmers’ milk and a key part of our long-term strategy. This is why we’re aiming to increase our milk solids into Foodservice by approximately 50% by 2030 and grow our presence across further markets including Greater China, South East Asia and the USA. “To support our Co-op’s growth to 2030, we intend to invest about $1 billion in moving milk into higher value products and increase our R&D budget by 50%. These investments will enable further product innovation in the Foodservice channel, among other things, and help put us on track to meet our next Foodservice target of becoming a $5 billion annual revenue business,” says Mr Hurrell. Fonterra’s Director Global Foodservice Paul Harvey says Anchor Food Professionals chefs works alongside customers in their kitchens to match their needs with our Co-op’s dairy innovation expertise. “To offer solutions we need to know what the problem is, and in many cases the issues are in the kitchen, and that’s where we are spending much more time with our customers who want our help. “We now have 55 chefs around the world who go into kitchens like this where […]