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Iconic cheese brand King Island Dairy will shut its doors next year after more than 120 years.
Parent company dairy giant Saputo has confirmed it will no longer operate King Island Dairy and will retire the brand in mid-2025 after it was unable to find a buyer.
Saputo Dairy Australia president Leanne Cutts said the decision to shutter the Tasmanian brand did not come lightly.
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She revealed Saputo failed to find a buyer for the brand and also blamed the move to cease operations on the "changing industry".
"As King Island Dairy's historic roots are deeply embedded in the region, it was hoped the strategic review would identify a potential buyer for the facility. It is a unique brand, with a plant that is nearly 100 years old and designed to produce hand-made specialty cheeses," she said in a statement.
"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."
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King Island Dairy's end will result in 58 people losing their jobs.
In a statement, Saputo said it would try to redeploy the impacted workers elsewhere in the business.
King Island Dairy will continue producing cheese until it shuts down operations next year.
