Vegemite acquired by Bega Cheese.
Bega has announced yesterday to acquire Vegemite, ZoOSh mayonnaise and Bonox under the deal to buy most of Mondelez International’s Australia and New Zealand operation.
Vegemite, a popular brand in Australian market would be a topping on the cake for Bega. The merged business shall leave a value in the consumers eyes, said Barry Irvin (executive chairman of Bega)
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.
The deal, financed by bank loan, represented the perfect opportunity to diversify beyond dairy into other markets for Bega.
Mondelez, said it will now focus on brands including Cadbury Dairy Milk chocolate and Oreos.
But despite Vegemite’s return, its biggest competitor OzEmite would remain on shelves because of its niche market, as stated by Dick Smith the owner of OzEmite. Vegemite is made out of brewers’ yeast from wheat, but OzEmite is made from corn and is therefore gluten free.
Mr Smith expressed his pleasure upon return of Vegmite on Australian soil.