Bega Cheese Limited has become the new owner of the iconic Australian food spread Vegemite.
The company announced on Wednesday it has reached agreement to buy Mondelēz International’s Australia and New Zealand grocery and cheese business, and with it some of Australia’s most high-profile brands.
The sale includes brands such as Vegemite, ZoOsh and Bonox – and other products using the Kraft brand under license for items such as peanut butter, nut spreads, processed cheese slices, ambient cheese spread, mayonnaise, parmesan cheese, Kraft Easy Mac and Kraft Mac & Cheese.
The deal also includes the Port Melbourne site, a license to the Dairylea brand for use in Australia and New Zealand, although Philadelphia is not included.
The link with Kraft began in 2009, when Bega began producing some of the US company's processed cheese products.
The Company will pay AU$460 million for the business and the acquisition.