Saputo announced it is allocating $27m for upgrades across its Victorian and Tasmanian plants as well as a review of its King Island Dairy plant in Tasmania. Saputo says the review will consider a range of “strategic, commercial and financial alternatives, including a potential sale to a third party so the facility can continue to make its award-winning products for the long-term.”

President and CEO International and Europe Leanne Cutts said Saputo hopes to find a buyer for the facility who can ensure continued success of its renowned cheese products, and recognised King Islands Dairy’s historic roots and the potential impact on its 63 workers at the facility and the local community.