Vegemite will be Australian-owned once again after Bega Cheese agreed to buy the iconic spread and other well-known brands for $460 million.
Bega said on Thursday it will acquire Vegemite, ZoOSh mayonnaise and Bonox under the deal to buy most of Mondelez International's Australia and New Zealand grocery and cheese business.
"The wonderful heritage and values that Vegemite represents and its importance to Australian culture makes its combination with Bega Cheese truly exciting," Bega executive chairman Barry Irvin said in a statement.
"In addition to Vegemite and the other brands being undeniably iconic, the people we are taking on are very impressive and will play an important role in growing the merged business."
Bega will also get the right to use the Kraft brand under licence for products including peanut butter, nut spreads, processed cheese slices, parmesan and others, as well as Mondelez's Port Melbourne site.
That should make us Happy Little Vegemites (especially Dick Smith).
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Bega is owned by Fonterra
That would mean that Kraft will be selling their Pt Melb production facility, as they are the only products being manufactured there, all other items now manufactured in China, except for dairy products??
There is a fine line between "Hobby" and "Madness"
The land under Port Melb factory would be worth a fortune now its all becoming residential
Wonder if they will stick with the halal certification that vegemite currently has or will they stop it now it has been found it has "The wonderful heritage and values that Vegemite represents and its importance to Australian culture" significance.
You can learn alot using Google, and the search button.....
gulliver (22-01-17)
I dont care who eats Vegemite and so long as it continues to meet the standards set for the production of Food products, Vegemite should NOT pay anyone for them to put some sticker on it declaring it approved for sale and consumption within Australia at least but if the product is for sale overseas, then such approvals would be have to be sought in the Country of Sale and would need to be paid for which is perfectly acceptable.
I stand unequivicably behind everything I say , I just dont ever remember saying it !!
lsemmens (20-01-17)
Bought for half a Billion dollars?
What was it sold to the Yanks for?
For a lot less than half a Billion i would have thought a rival brand could have been setup.
I welcome the move but question the economics behind it....
Last edited by Godzilla; 20-01-17 at 12:06 AM.
Maybe, Godz, but the rival products do not have the same appeal as Vegemite and would be hard put rival it as an income stream.
I'm out of my mind, but feel free to leave a message...
Keith (21-01-17)
I used to help make the stuff
The yeast was sourced from CUB after they finished brewing with it
I worked there over summer after uni and had to squeegee it out of the tank.
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