An iconic and award-winning Tasmanian cheese manufacturer may be put up for sale by its international owner.

King Island Dairy is currently undergoing a “strategic review” by its dairy giant owner Saputo to determine the viability of retaining the processing facility for the future.

In a statement, Saputo said they ‘intend to keep’ the dairy operations on the island “running at regular capacity” while future possible scenarios to “maximise value” are assessed.

The said 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 Chief Operating Officer Leanne Cutts said the approximately 63 workers at the facility on the small island northwest of Tasmania will be consulted throughout the process.

“As King Island Dairy’s historic roots are deeply embedded in the region, we hope to find a buyer for the facility to ensure the continued success of its renowned specialty cheese products.”

“We recognise the potential impact any decision may have on the King Island community, especially our employees and dairy farmers, and we are committed to thoughtfully considering all possible scenarios before any decisions are made.”

King Island Dairy became part of Saputo in 2019, with its cheese-making legacy spanning back more than a century.