They make cheese in Bega…and now the company have just acquired the perfect partner for your toast!
Vegemite is set to return to Australian ownership with news that dairy company Bega Cheese will buy most of Mondelez International's Australia and New Zealand grocery and cheese business.
Not including Philadelphia products, the deal will see Bega also taking ownership of Kraft branded products like peanut butter, cheese and mayonnaise.
According to a note to the Australian Stock Exchange, Bega will pay $460 million for the acquisition.
Bega’s Executive Chairman, Barry Irvin said, "these iconic brands alongside the Bega brand are strong building blocks to enable Bega Cheese to become a great consumer goods business".