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Bega-Mondelēz deal a positive move for both companies and for local industry

"Bega's acquisition of Kraft-branded food product businesses from Mondelēz International is a positive development for which both companies should be congratulated," Ai Group Victorian Director, Tim Piper, said today.

"As a result of today's announcement, Bega will broaden its range of products considerably and gain some iconic brands – none more iconic than Vegemite. As the company’s portfolio expands, so too will its development of the regional economies in which it operates.

"Mondelēz International will now be in a position to concentrate on its snacking product range and further develop its domestic production here in Australia – good news for all its local production facilities.

"Bega's Executive Chairman, Barry Irvin, and Modelez International's ANZ Managing Director, Amanda Banfield, should be congratulated for realising this positive deal for Australia's food manufacturing industry," Mr Piper said.

Further comment: Tim Piper – 0411 430 301