Consumer Products | Port Melbourne, Australia | Corporate Acquisition
In a deal valued at A$460 million, Bega Cheese (ASX: BGA) has agreed to acquire the Australia and New Zealand grocery business of Mondelēz International (NASDAQ: MDLZ), which includes Vegemite, Kraft Mac & Cheese and several other food brands. Vegemite will return to Australian ownership with the sale after more than 90 years in the Mondelēz portfolio. The company's Port Melbourne manufacturing site will also transfer to Bega as part of the deal. Bega's stock closed up more than 15% on Thursday after the news.