The iconic King Island Dairy will close after more than 120 years of operations following dairy giant Saputo's failure to attract a buyer for the business.
Saputo says 58 employees will be impacted by the closure of the King Island Dairy in Tasmania.Tasmania's Premier says the government is "providing immediate support to the company's workers, farmers, and the wider island community". Dairy giant Saputo will shut its iconic King Island Dairy in the middle of next year and discontinue its more than 120-year-old brand, after being unable to find a buyer.
Saputo Dairy Australia president Leanne Cutts said the decision to shut the dairy had "not been taken lightly", and only after a 10-month "intensive review of all commercial and financial alternatives" for the brand, including selling it to a third party. "After thoroughly reviewing every possible option, closure of the facility was determined as the most viable way to strengthen SDA's competitiveness based on changing industry and market conditions," she said.
Saputo bought King Island Dairy in 2019 but says it has now made the "difficult decision" to close the facility and end the brand.Ms Cutts said while Saputo's two other cheese brands were thriving, and the King Island Dairy brand held a "nostalgic place in the hearts of Australians", it had "not maintained its position in today's ultra-competitive food industry".Photo shows A composite image showing photos taken from CCTV vision.
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