King Island Dairy sale signed, sealed, delivered

The sale of King Island Dairy is now fully complete.

“It’s official,” Premier Jeremy Rockliff said.

The sale settlement between Saputo and King Island Dairy 2 Pty Ltd occurred at midnight on Saturday, May 10, marking the end of a tense year-long campaign to save the iconic cheesemaker from potential closure.

Originally announced in early March, the sale by Saputo Dairy Australia to newly formed Australian-owned company King Island Dairy 2 Pty Ltd, entered a transitional phase over the past two months, during which employment transfers, licensing arrangements, and regulatory registrations were finalised.

The dairy's staff marked the occasion with a low-key celebratory barbecue last Friday, recognising not just the change in ownership but the community-wide effort that secured the future of one of Tasmania’s most valued food producers.

In March Premier Rockliff praised the resilience of King Islanders and the determination of all involved when the sale was announced.

“First and foremost, I thank King Islanders for never giving up,” he said. 

“The King Island community have their own special brand of resilience and belief in themselves – it’s in their DNA.”

The new owners Melbourne-based businessmen Nicholas Dobromilsky and Graeme Wilson are directors of King Island Dairy 2 Pty Ltd, The sale included the King Island Dairy manufacturing facility, the popular on-site Cheese Store, and two local farms that secure a guaranteed milk supply.

All affected employees were offered continuing employment with the new business, ensuring a smooth transition and uninterrupted production of the island’s globally respected specialty cheeses.

New owner Nicholas Dobromilsky is expected to visit the island this week as operations continue under the new management.

The transition is seen as a significant win not just for King Island but for Tasmania’s food and beverage industry, with the brand now secured under Australian ownership.