Business, Food

Vegemite bought by Bega from US food giant Mondelez International

Vegemite is set to return to Australian ownership after dairy company Bega announced it would buy most of Mondelez International’s Australia and New Zealand grocery and cheese business.

Bega, in a note to the Australian Stock Exchange, said it would use bank debt to fund the $460 million acquisition.

The deal does not include Philadelphia products but will see Australian ownership of Kraft-branded products, including peanut butter, cheeses and mayonnaise — via redwolf.newsvine.com

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