Australian's Bega buys rights to Vegemite, Kraft brands from Mondelez for A$460M

Wed, 18 Jan 2017

By Paul McBeth Jan. 19 (BusinessDesk) - Australian-listed dairy company Bega Cheese will buy the bulk of Mondelez International's trans-Tasman grocery business, including the flagship Vegemite brand, for A$460 million. The deal will be fully funded by Bega's existing A$500 million banking facility and is expected to boost earnings by A$40-to-A$45 million and revenue by A$310 million in the first full year of operation, Bega said. The dairy group generated sales of A$1.2 billion in the year ended June 30, 2016, with earnings before intere...

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