King Island Dairy, which has been making cheese for over 120 years, will cease operations next year.
Its parent company, Saputo, said it could not find a buyer for the brand.
The company noted that it would retire the brand in 2025.
Leanne Cutts, the president of Saputo Dairy Australia, said the company’s decision to stop operating the brand was not taken lightly.
According to Cutts, the company blamed the changes in the industry for the decision to stop operating the business.
She noted that the company had hoped to find a buyer for King Island Dairy, which is located in a region with deep historical ties.
The plant, which is almost a hundred years old, produces artisanal cheeses.
Over the past few years, the company had invested a lot of money in its various operations in Tasmania.
However, it noted that the brand was not able to maintain its position in the competitive food industry.
As a result, 58 jobs will be lost due to the end of King Island Dairy’s operations.
According to the company, it will try to find other jobs for the affected workers.
King Island Dairy, on the other hand, will continue to produce cheese until its operations stop next year.