September 5th 2024.
After more than 120 years, the iconic cheese brand King Island Dairy will be closing its doors next year. Its parent company, dairy giant Saputo, has officially announced that the brand will be retired by mid-2025 as they were unable to find a suitable buyer.
The decision to shut down the Tasmanian brand was not made lightly, according to Saputo Dairy Australia president Leanne Cutts. Despite their efforts to find a buyer, the changing landscape of the industry has made it difficult for King Island Dairy to continue operations.
Cutts stated that the brand has a rich history deeply rooted in the region, and they had hoped that a strategic review would lead to a potential buyer for the facility. However, with a plant that is almost a century old and specialized in hand-made specialty cheeses, it proved to be a unique and challenging sale.
Over the past five years, Saputo has invested over $40 million in all of its Tasmanian operations. While their other brands, such as Mersey Valley and Tasmanian Heritage, are thriving, King Island Dairy has not been able to keep up in today's highly competitive food industry. Despite holding a nostalgic place in the hearts of many Australians, the brand could not maintain its position.
This difficult decision will result in 58 people losing their jobs, as King Island Dairy's closure will also mean the end of their cheese production. In response, Saputo has stated that they will try to redeploy the impacted workers to other areas within the business.
Until the official shut down next year, King Island Dairy will continue to produce their beloved cheeses. But after that, the brand will be retired, leaving behind a legacy that has spanned over a century.
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