The New Zealand Dairy Board (NZDB) was a statutory board in control of the export of all New Zealand dairy products from its formation in 1923 until 2001. [1] [2] It operated through a global network of marketing subsidiaries.
In 2001, the Dairy Board was merged with the two largest New Zealand dairy cooperatives (which represented 96% of the industry) to a company initially called GlobalCo, but shortly afterwards renamed Fonterra. [3] [4]
The merger required approval from the Commerce Commission, which it declined, so a special Act of Parliament, the Dairy Industry Restructuring Act 2001 was passed allowing the merger to occur. [3]