Some major dairy assets could soon change hands, with New Zealand-based giant Fonterra looking at selling off its Australian business.
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Fonterra has eight manufacturing sites in Tasmania and Victoria.
The company suggested a sell-off could help its businesses grow under new ownership.
Fonterra said it planned to "deepen its position" as a world-leading provide of dairy ingredients.
It said it was exploring the full or partial sale of its global consumer business and integrated businesses Fonterra Oceania and Fonterra Sri Lanka.
Fonterra Oceania includes dairy product production in Australia and New Zealand.
"While these are great businesses with recent strengthening in performance and potential for more, ownership of these businesses is not required to fulfil Fonterra's core function of collecting, processing and selling milk," chief executive Miles Hurrell said.
"Due to our co-operative structure, we believe prioritising our ingredients and food service channels and releasing capital in our consumer and associated businesses would generate more value.
"At the same time, we believe Fonterra is not the highest-value owner of the consumer and associated businesses in the longer term and a divestment could allow a new owner with the right expertise and resources to unlock their full potential.
"This presents a great opportunity for these brands and businesses."
Fonterra said it would appoint advisors to help assess sales options.
The company in 2017 announced a multi-million-dollar investment at Wynyard to increase processing capacity.
The Spreyton site's Duck River Premium Butter was named champion butter at this year's Australian Grand Dairy Awards.
It also won the award last year.
Sean Ford
The Advocate Newspaper, Tasmania. Business, economics, politics, crime.
The Advocate Newspaper, Tasmania. Business, economics, politics, crime.
