Vegemite back in Australian hands

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Vegemite has returned to Australian hands, with Bega Cheese finalising its acquisition of the brand from Mondelez International.

The $460m deal, which was stalled by a cyber attack, includes the iconic Vegemite brand as well as other brands such as ZoOSh salad dressings and beef extract Bonox.

The acquisition includes the brands’ manufacturing facilities.

Bega Cheese executive chairman Barry Irvin has said the Vegemite brand will continue to focus on local growth, however there are also plans to expand to the Asian market.

The deal has led to the creation of 200 jobs in Melbourne.

The takeover was initially stalled due to an outage of the Mondelez global IT network, which was attributed to a global cyber attack.

This is the first time in 90 years that the Vegemite brand has been in Australian ownership.