The futures of Tasmanian brands like King Island Dairy and Tasmanian Heritage are in limbo after Lion announced a strategic review of its business on Tuesday.
Chief executive Stuart Irvine said Lion Dairy & Drinks’ turnaround phase was now complete after three years of growth, change and innovation.
“The investments we have made have grown profitability and created a sound platform for future growth with our high-quality brands and leading Australian cold-chain distribution network at its heart,” he said.
Lion has developed a new three-year growth strategy around innovation in high nutrition products, investments adjacencies and ongoing supply chain efficiency initiatives.
The strategic review should be completed within four weeks.
“All options will be canvassed, including retaining and investing in the business and a sale,” Mr Irvine said.
“There is no change for customers or suppliers.”