Gloria Group agreed to acquire an unknown majority stake in Soprole Inversiones S.A. from Fonterra Co-operative Group Limited (NZSE:FCG) on November 18, 2022. The divestment comprises a number of transactions that result in aggregate consideration of CLP591.07 billion. The divestment is subject to a number of conditions.

The material conditions are receipt of regulatory approvals (including from the competition authority in Chile). As of February 23, 2023, The transaction has been approved by competition authority in Chile. JP Morgan, UBS and Jarden advised Fonterra on the selling off process.

As of April 13, 2023 Funded the acquisition of Chilean dairy firm Soprole with a loan from Banco de Chile, Itau Corpbanca, JP Morgan Chase Bank, and Citibank. Isaac Stewart, Christopher Young and Andrew Ryan of Minter Ellison Rudd Watts acted as legal advisor to Fonterra Co-operative Group Limited.