Iconic Australian cheese brands located in Burnie and King Island, including South Cape, King Island Dairy and Tasmanian Heritage have been on sold to another foreign owner.
The ACCC has decided it will not oppose the proposed acquisition of Japanese owned Lion Dairy & Drinks’ Tasmanian-based cheese business by Canadian Saputo Dairy Australia.
Saputo’s cheese brands include Coon, Sungold and Devondale
Saputo has an existing milk powder processing plant in Smithton, Tasmania. The ACCC’s investigation included a detailed examination of the impact this deal would have on competition for the acquisition of raw milk.
The ACCC determined that the proposed acquisition is unlikely to substantially lessen competition in the supply of cheese.
The ACC said the combined Saputo-Lion would face continued competition from domestic cheese producers, supermarket private labels, and cheese importers.
