Damon Mcknight
Vegemite, a salty and slightly bitter spread, is synonymous with Australian culture. It was first invented in Melbourne in 1923 by chemist CP Callister, who created it at the request of Australian food manufacturer Fred Walker. However, despite being invented in Australia, Vegemite has not been wholly Australian-owned since 1935. In 1935, Fred Walker & Co. merged with Kraft Walker, making Vegemite partly American-owned. Over the years, the brand changed hands several times and was owned by various international companies, including Kraft Foods and Mondelez International. Finally, in 2017, Vegemite was acquired by the Australian company Bega Cheese, bringing it back into Australian ownership after more than 80 years.
| Characteristics | Values |
|---|---|
| Current ownership | Bega Cheese |
| Year of acquisition by Bega Cheese | 2017 |
| Deal amount | $460 million |
| Previous owner | Mondelez International (formerly Kraft Foods Inc.) |
| Year of acquisition by Mondelez International | 2012 |
| Previous owner before Mondelez International | Kraft Foods Inc. |
| Year of acquisition by Kraft Foods Inc. | 1935 |
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What You'll Learn
Vegemite was owned by Kraft, an American company
Vegemite, a salty and slightly bitter spread, was invented in Melbourne in 1923 by chemist CP Callister. It was created in response to a request by Australian food manufacturer Fred Walker to develop a product similar to British Marmite.
In 1935, after Walker's death, his company, Fred Walker & Co., was merged into Kraft Walker, a joint venture Walker had formed with Kraft Foods in 1926. From that point on, Vegemite was partly owned by an American company. In 1952, the company became Kraft Foods Limited, and the rest of the Australian ownership was acquired by the US company. The change was reflected in the appearance of the Kraft logo on Vegemite packaging for the first time.
Over the years, Kraft became involved in a complex series of takeovers, mergers, and sell-offs, making it challenging to track the ownership of Vegemite. In 2011, the company split into two divisions, with Mondelez International becoming the proprietor of several Australian brands, including Vegemite.
Vegemite's association with Kraft and its subsequent American ownership lasted for decades, with Australians expressing dismay over the loss of the brand to US-owned Kraft. However, in 2017, Vegemite was finally returned to Australian ownership when Bega Cheese, a Melbourne-based company, purchased it as part of a deal with Mondelez International. The acquisition, valued at $460 million, included other iconic Australian food brands and the rights to use the Kraft brand in Australia for specific products.
Bega Cheese's acquisition of Vegemite reflected its commitment to preserving iconic Australian brands and ensuring that the profits from these beloved products benefit the Australian economy. The deal was widely celebrated by Australians, bringing Vegemite back into Australian hands after a long period of foreign ownership.
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Bega Cheese bought Vegemite for $460 million in 2017
Vegemite is an iconic Australian savoury spread. It was first manufactured in 1922 by Fred Walker & Co., which later became the Kraft Food Company. In 1935, after Fred Walker's death, the Vegemite brand came under the ownership of the American company Kraft Foods.
In 2017, Bega Cheese bought Vegemite for $460 million. This deal included the purchase of Vegemite, ZoOSh, and the rights to use the Kraft brand in Australia for peanut butter and cheese products. Bega Cheese's acquisition of Vegemite brought the brand back to Australian ownership after more than 80 years. The deal was widely celebrated by Australians, who hold Vegemite in a special place in their culture as a national treasure.
Bega Cheese's efforts to bring iconic Australian brands back into local ownership reflect the company's deep commitment to Australian heritage and its role in the national food industry. By acquiring and managing these brands, Bega ensures that profits from these beloved products benefit the Australian economy.
The Vegemite brand is now owned by Bega Group, which purchased it alongside other assets from Mondelez International (formerly Kraft Foods Inc.). Bega Cheese's acquisition of Vegemite was a bold strategic shift, taking the company into branded consumer goods. The deal was funded by bank debt, and Bega Cheese shares rose by more than 15% following the announcement.
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Vegemite is now Australian-owned and made
Vegemite, a salty and slightly bitter spread, is now Australian-owned and made. It was invented in Melbourne in 1923 by chemist CP Callister, who developed it in response to a request from Australian food manufacturer Fred Walker for a product similar to British Marmite.
Despite being invented in Australia, Vegemite has been owned by international companies for many years. In 1935, 12 years after its launch, the Vegemite brand came under the ownership of the American company Kraft Foods following the death of Fred Walker. In 1952, the company became Kraft Foods Limited, and the rest of the Australian ownership was acquired. The change was reflected in the appearance of the Kraft logo on Vegemite packaging for the first time.
In 2012, Mondelez International took control of the brand after a restructuring at Kraft. However, in 2017, Vegemite returned to Australian ownership when the Bega Group, a Melbourne-based dairy company, purchased it alongside other assets from Mondelez International (formerly Kraft Foods Inc.) for $460 million. This deal included the purchase of other iconic Australian food brands, such as ZoOSh mayonnaise and Bonox beef extract, as well as the rights to use the Kraft brand in Australia for peanut butter and cheese products.
Bega's acquisition of Vegemite was widely celebrated by Australians as it brought the brand back into Australian ownership after more than 80 years. Vegemite holds a special place in Australian culture and is symbolic of the country's heritage and history. It is produced in Australia at its Port Melbourne manufacturing facility, which produces more than 22 million jars annually.
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Vegemite has been a symbol of Australia for generations
Vegemite soon became a staple in Australian homes, especially during World War II when it was included in army rations. By the late 1940s, it was used in nine out of ten Australian households. Vegemite's popularity continued to grow, and it became a symbol of Australia and Australian culture. It was referenced in songs, souvenirs, and other popular culture ephemera. The spread was also featured in advertising campaigns, such as the iconic 'happy little Vegemites' ad of the 1950s, which was later remastered and reintroduced in the late 1980s.
Despite its strong association with Australia, Vegemite had not been wholly Australian-owned since 1935, when Fred Walker & Co. merged with Kraft Walker after Walker's death. The brand then became entangled in a complex series of corporate takeovers, mergers, and sell-offs, passing through the hands of various international companies. For decades, Australians lamented the loss of the brand to American ownership.
Finally, in 2017, Vegemite returned to Australian ownership when it was purchased by the dairy company Bega Cheese in a $460 million deal. Bega's acquisition of Vegemite, along with other iconic Australian food brands, was celebrated by Australians as a victory for the preservation of their country's heritage and the national food industry. With Vegemite back in Australian hands, the beloved spread continues to be a symbol of Australia and a source of national pride.
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![Vegemite (7.7 ounce) by Vegemite [Foods]](https://m.media-amazon.com/images/I/514fm2IwHwL._AC_UL320_.jpg)
Vegemite was invented in Melbourne in 1923
Vegemite, a thick, dark brown Australian food spread, was invented in Melbourne in 1923 by Dr. Cyril P. Callister, the chief chemist at Fred Walker & Co. It was first sold in stores on 25 October 1923, and has since become an iconic Australian food, deeply ingrained in the country's culture and heritage.
The spread was developed in response to a request by Fred Walker, an Australian food manufacturer, for a product similar to British Marmite, which had dominated the Australian market at the time. Vegemite is made from leftover brewer's yeast extract with various vegetable and spice additives, giving it a strong, salty, slightly bitter, and malty flavour with an umami taste similar to beef bouillon.
Despite its initial slow sales, Vegemite eventually gained popularity, particularly during the Second World War when it was included in Australian Army rations. By the late 1940s, it was used in nine out of ten Australian homes. The product is still produced in its original manufacturing facility in Port Melbourne, producing over 22 million jars annually.
In 1935, following the death of Fred Walker, the Vegemite brand came under the partial ownership of the American company Kraft Foods, and it became fully American-owned in 1952. However, in 2017, the brand returned to Australian ownership when the Bega Group purchased it, bringing Vegemite back into local ownership after more than 80 years.
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Frequently asked questions
Yes, Vegemite is Australian-owned as of 2017 when it was bought by Bega Cheese from US giant Mondelez in a $460 million deal.
Vegemite was owned by Mondelez International, formerly known as Kraft Foods Inc. The brand has been at least partly owned by Americans since 1935, a year after Fred Walker, the founder of Fred Walker & Co., died.
Bega Cheese's efforts to bring iconic Australian brands back into local ownership reflect the company's deep commitment to Australian heritage and its role in the national food industry. By acquiring and managing these brands, Bega ensures that profits from these beloved products benefit the Australian economy.
