Vegemite Bega
Rockingham, Australia - April 23, 2011: A true Aussie icon - Vegemite pictured with its partner toast. Invented by Food Technologist Dr. Cyril P. Callister using yeast waste left over from breweries. Aussies have grown to love it....others are not quite sure.


Australian company Bega Cheese Limited is set to become the proud new owner of iconic brand Vegemite after reaching an agreement to buy current owner Mondelēz International’s Australia and New Zealand grocery and cheese business (MDLZ Grocery Business).

Along with Vegemite, the $460 million deal includes also includes ZoOsh and Bonox along with other products using the Kraft brand under license such as peanut butter, cheese slices, Kraft Easy Mac and Kraft Mac & Cheese.

Bega will also take over the Port Melbourne manufacturing site and receive a license to the Dairylea brand for use in Australia and New Zealand. Philadelphia is not included in the deal.

The executive chairman of Bega Cheese, Barry Irvin, said he was proud that an Australian company, that has transformed itself from a dairy farmer co-operative into an ASX listed billion-dollar business, is acquiring the iconic and culturally significant brand Vegemite.

“The wonderful heritage and values that Vegemite represents and its importance to Australian culture makes its combination with Bega Cheese truly exciting,” he said. “Bega is a company with humble origins and to be in a position to be able to take on a business of this scale and with brands including Vegemite is a testament to how far we have come.”

According to Bega, the company’s acquisition of MDLZ Grocery Business is the next step in its evolution towards becoming a great branded Australian food company.

“We feel honoured to be bringing these businesses together and to be taking on the responsibility and guardianship of one of Australia’s most loved brands and we look forward to welcoming over 200 talented people into our business as part of this acquisition,” said Irvin.

“This purchase represents an exciting opportunity bringing the MDLZ Grocery Business under the ownership of a high quality much loved Australian company, Bega.”

Amanda Banfield, vice president Australia, New Zealand and Japan for Mondelēz International said that the company is happy to have found a home for Vegemite as it focuses on other aspects of the business.

“It’s been an absolute honour and privilege to have nurtured brands such as Vegemite for the past 90 years,” she said. “But as we further our focus on core snacking categories and global Power Brands, the time is right for these brands to take the next step in their journey.

“We are pleased to have found a home for these talented people and grocery brands in a company that shares our passion for their future.”


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