The $280 million takeover of Lion's speciality cheese business by dairy giant Saputo has been completed.
The deal includes iconic brands such as South Cape, Tasmanian Heritage, Mersey Valley and King Island Dairy.
It will also put the Canadian-based company in charge of manufacturing facilities in Burnie and King Island that together employ about 400 people.
Saputo chief executive Lino Saputo Jr said the company was "delighted to have successfully acquired" Lion's speciality cheese business".
"As we now expand our network and our product offering, we also welcome approximately 400 employees and a new group of milk suppliers to Saputo," he said.
"We look forward to working together to leverage best practices and pursue opportunities to further enhance our leadership position in Australia."
Saputo already has a dairy processing plant at Smithton and produces brands including Coon and Mil Lel Parmesan.
Lachlan Bennett
Lachlan Bennett is a journalist based in Burnie with an interest in politics, primary industries, transportation, tourism and the West Coast.
Lachlan Bennett is a journalist based in Burnie with an interest in politics, primary industries, transportation, tourism and the West Coast.
