HUGE News For Vegemite Fans!
Vegemite will be back in Australian hands after Bega Cheese agreed to buy brands including the iconic spread for $460 million.
"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 executive chairman Barry Irvin said in a statement.
The deal will be funded by bank debt.
"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," Mondelez International vice president Amanda Banfield said.
"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."