Bega Cheese has bought back the farm by broadening its reach in the food industry, snapping up Vegemite and other Kraft brands in a $460 million deal which takes it far from its roots as a cheese producer.
In a surprise move, the company said it is to buy the Kraft branded food products businesses in Australia which gives it control of a suite of household names spanning Vegemite to peanut butter, mayonnaise and Kraft processed cheese.
Bega said the acquisition will give it a strong presence in the domestic spreads business.
The link with Kraft began in 2009, when Bega began producing some of the US company’s processed cheese products. Sydney Morning Herald – Read more…
In a surprise move, the company said it is to buy the Kraft branded food products businesses in Australia which gives it control of a suite of household names spanning Vegemite to peanut butter, mayonnaise and Kraft processed cheese.
Bega said the acquisition will give it a strong presence in the domestic spreads business.
The link with Kraft began in 2009, when Bega began producing some of the US company’s processed cheese products. Sydney Morning Herald – Read more…