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Discuss the success of the trade between Kraft and Bega Cheese
Bega Cheese bought Kraft's Australian and New Zealand products. Including Vegemite, ZoOsh, Peanut Butter and Bonox. A license of the DairyLea brand for use in Australia and New Zealand.
Along with the products, Bega bought the 6.3 hectare Port Melbourne manufacturing site.
The final trade happened in January 2017 and was $460 million.
The Philadelphia cheese business was not part of the deal. More than 1.1 billion jars of Vegemite have been produced since the spread first went on sale in 1923. Around 300,000 jars are produced daily and 9 in 10 people have a jar in their house.