Fonterra's sale of brands like Mainland and Anchor is expected to have ripple effects across the economy.

Farmer-shareholders have voted overwhelmingly to sell off the dairy co-op's consumer arm to French dairy giant Lactalis for $4.2 billion dollars.

It's expected to unlock billions of dollars of additional spending into the economy. 

Chief executive Miles Hurrell says says Fonterra hopes to return about $3.2 billion to shareholders - equivalent to about 0.7 percent of GDP.

LISTEN ABOVE