Rokiskio Suris (Rokiskis Cheese), one of Lithuania’s biggest dairy companies, has completed talks with New Zealand’s Fonterra on more than 7 million euros in investment through purchase of about a tenth of the company’s shares, informs LETA/BNS.

The share sales price totals 7.1 million euros, or 1.98 euros per share, Rokiskio Suris said in a message on the Nasdaq Vilnius stock exchange. The contract has been signed with Fonterra’s subsidiary registered in the Netherlands.

Dalius Trumpa, board chairman at Rokiskio Suris, has said that strategic partnership with Fonterra would allow modernizing the Lithuanian company, take over the global experience in business management, improve qualifications of specialists, broaden its product range and open new exports channels.

Fonterra, which holds an 85- percent share of New Zealand’s milk production and processing market, posted a net profit of over 511 million euros on revenue of 10.5 billion euros for the last financial year. The company processes around 22 million tons of milk annually and exports 95 percent of its products.