King Island Dairy, a renowned cheese producer in Tasmania, has secured a new owner, averting a closure that was slated for June. The parent company, Saputo Dairy Australia (SDA), had indicated that without a buyer, the business would cease operations. Today, it was confirmed that a binding agreement for the sale has been reached.
As part of the agreement, current employees at King Island Dairy will have the opportunity to transfer to the new ownership, ensuring job continuity for the workforce. The discussions surrounding the sale have involved collaboration between SDA and the Tasmanian government, both of whom have been keen to preserve the iconic cheese brand, which boasts a legacy spanning 120 years.
Gerard Lourey, SDA’s director of operations and supply chain, expressed confidence that the new owner is dedicated to sustaining the manufacturing facility and the local employment landscape on King Island. He stated, “We are very pleased to have reached a sale agreement for the buyer to purchase the King Island Dairy facility and brand, the onsite cheese store, and two local farms that provide a guaranteed milk supply.”
Lourey also extended his gratitude to the employees, suppliers, customers, local council, and the Tasmanian government for their unwavering support during a tumultuous time for King Island Dairy. The concerted efforts of these stakeholders have been crucial in navigating this challenging phase.
Overall, the successful transfer of ownership bodes well for the future of King Island Dairy, ensuring the continuation of its operations and the preservation of jobs within the local community. The commitment to maintaining the traditional practices and high-quality production for which the brand is known remains a priority under the new ownership.