Bega Cheese to acquire iconic brands from Mondelez International
Included in the sale are Mondelēz International owned brands — VEGEMITE, ZoOsh, Bonox — and other products that use the Kraft brand under license, such as processed cheese slices, parmesan cheese and more.
Mondelēz International, Inc., Deerfield, Ill., reached an agreement to sell most of its Australia and New Zealand grocery business to Bega Cheese Ltd., Australia, for $460 million, adding the VEGEMITE and other grocery brands to Bega's portfolio.
"We're extremely proud of our history as the custodian of the VEGEMITE brand for over 90 years, transforming it from its local roots into a global icon that's synonymous with Australia," says Amanda Banfield, vice president Australia, New Zealand and Japan for Mondelēz International. "It's been a privilege stewarding this brand, which is found in almost every Australian household and is part of the fabric of the nation. 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."