Saputo, fails to find buyer, to close King Island Dairy
Canadian owned Saputo Dairy Australia has announced the last operating season of King Island Dairy, planning to close the facility and retiring the brand in mid 2025.
The decision comes after a 10 month review that ‘sought to maximise value for the business by conducting an intensive review of all commercial and financial alternatives for King Island Dairy, including a potential sale to a third party’, according to the company.
The President and Chief Operating Officer (International and Europe), Saputo Inc. Leanne Cutts said the decision had not been taken lightly, with the closure the ‘most viable way to strengthen SDA’s competitiveness.
Cutts said: “We have invested more than $40 million in all our Tasmanian operations over the past five years.
“While our other Tasmanian brands such as Mersey Valley and Tasmanian Heritage are thriving, and King Island Dairy products hold a nostalgic place in the hearts of Australians, the brand has not maintained its position in today’s ultra-competitive food industry.”
#manufacturing #dairy @Saputo Saputo Inc.
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Senior Sales & Business Development Leader | Customer-Centric Technical Sales
2moWould it be possible to see the source of such competition?