Whey Protein: First Milk purchases 51 percent share of Fast Forward JV from Fonterra
26 Jun 2019 --- First Milk will become the sole owner of Fast Forward JV’s Lake District-based whey protein manufacturing facilities this July, following its purchase of Fonterra’s 51 percent share. Additionally, the company is forming a strategic partnership with dairy protein specialist Havero Hoogwegt, which is part of the Hoogwegt Group.
The Hoogwegt Group is an existing First Milk partner and is the world’s largest privately-owned dairy ingredients provider. The Group will work with First Milk in the global sales and distribution of WPC80 (whey protein concentrate with a protein content of 80 percent).
“Backed by Havero Hoogwegt’s unique global network and team of commercial, technical and logistics experts, I am confident they are well-placed to maximise the market potential of our WPC80 production for mutual benefit,” says Shelagh Hancock, Chief Executive at First Milk.
“We see First Milk as an experienced producer of WPC of consistently high-quality and with a good reputation. We are proud to enter this partnership, which enables us to further grow and strengthen our global market position, allowing us to create best value for our partners,” adds Freek-Jan van der Puijl, Managing Director at Havero Hoogwegt.
Whey protein is a popular product in the sports nutrition field, which has expanded from niche to mainstream as demonstrated by the versatility of NPD which can be used across ready-to-drink (RTD) beverages, protein bars and cookies. While plant proteins generally need masking to cover “off-notes,” whey does not impair flavor, giving it an edge during a time when consumers are searching for natural ingredients.
“The added value protein market continues to grow with applications for high-quality whey products, such as WPC80, in the expanding sports nutrition and functional foods categories,” notes Hancock. This has been seen in products beyond those aimed at athletes, with increasing space for whey protein in snacking and on-the-go formats.
New Zealand-based dairy producer Fonterra has been carrying out a review of its stakes and it was announced last month that it was evaluating its joint venture with Nestlé, Dairy Partners Americas (DPA) Brasil. This was in light of last year’s revelation that DPA Brasil was being investigated by local government authorities for allegations of slave labor.
