The present invention provides a novel process for preparing fortified milk compositions from whole mammalian milk. The process of the present invention generally involves converting dried mammalian milk into a fats-enriched fraction, a protein-enriched fraction, and a carbohydrate-enriched fraction. The process comprises treating the dried milk with a fats extracting agent to provide a fats-enriched fraction, and a residual fraction comprising proteins and carbohydrates; separating said fats-enriched fraction from the residual fraction; and removing the fats extracting agent from the separated fats-enriched fraction to produce a dry fraction of oily, fats-enriched material and a fraction enriched in proteins and carbohydrates.