Vegemite has just changed hands after more than 90 years, getting back to its Aussie roots. Australian cheese manufacturer Bega Cheese Limited has bought most of Mondelez International’s grocery brands in Australia and New Zealand for AU$460 million (NZ$484 million).
The transaction includes a number of iconic brands such as Vegemite, ZoOsh, Bonox and other products that use the Kraft brand. On the contrary, the Philadelphia business is not included in the deal as it is a Mondelez International Power Brand.
According to Mondelez’s statement, the move will enable them to focus on their core snack brands.
“It’s been a privilege stewarding [the Vegemite] brand, which is found in almost every Australian household and is part of the fabric of the nation,” said Amanda Banfield, vice president Australia, NZ and Japan for Mondelez International.
“As we continue to execute our strategic growth plan, with a keen focus on core snacks categories and global Power Brands, we’re excited to see Vegemite and these much-loved brands continue to grow and thrive under Bega’s ownership.”