It's all about TRUST TrustWe must earn yours ResponsibilityWe are loyal to youUnderstandingWe listen and work through challenges StandardsWe profit by caring for you TruthWe are honest and upfront always Tree removal in Bega Park and pool Community concerns at Lake Curalo Young authors shine at book launch Umbrellas of Bermagui launch this Australia Day Sign up to our eNotices Receive your rates and water notice by email Save time, save the environment. Council meetings are now live streamed for public viewing from your PC, tablet or mobile Bega Valley Regional Gallery Vegemite is Australian again after Bega Cheese buys Kraft brands for $460 million A Vegemite factory in Melbourne. Bega Cheese is bringing Vegemite home after buying it and the Australian and New Zealand arm of US-based global food giant Mondelez International. The $460 million deal to acquire the MDLZ grocery business includes Vegemite, Bonox and ZoOsh salad dressings.

The right to produce Kraft-branded products locally under licence, from processed cheese to peanut butter and mayonnaise, are part of the sale, but Philadelphia cheese products are not included.business for sale tamworth nsw australia Bega says the Kraft licence will be royalty free until December 2017 as part of transitional arrangements.home remedies handyman service The company will also produce the Dairylea and Snackabout brands under licence in Australia and New Zealand.handyman services kansas city missouri Bega will have the global trademark rights to Vegemite and ZoOsh.business for sale omaha craigslist

The 6.3Ha Port Melbourne site, where 300,000 jars of Vegemite are produced daily, and there are five automated production lines, are part of the sale.rogers handyman service In an announcement this morning to the ASX, the NSW diary company, which has been making some processed cheese products for Kraft for the past eight years, said it would fund the acquisition from bank debt.handyman services caloundra Bega said the local Kraft business is expected to have net revenues of $310 million with an EBITDA of $40-45 million expected in its first full year, excluding transaction and implementation costs. The company plans to rationalise its own product range to align with the new Kraft products. Executive chairman Barry Irvin said bringing such iconic brands into the company would “enable Bega Cheese to become a great consumer goods business.”

“In addition to Vegemite and the other brands being undeniably iconic, the people we are taking on are very impressive and will play an important role in growing the merged business,” he said. MDLZ has 31% of the $550 million spreads category in Australia. “This acquisition will be value accretive in its own right, strategically important and company making,” Irvin said. Bega plans to use “near-term corporate opportunities to pay down debt”. It expects the deal to be finalised in the first half of CY2017. A short time ago, Bega Cheese shares were up 11% to $4.98. Follow Business Insider Australia on Facebook, Twitter, LinkedIn, and Instagram. Open 6.19 High 6.19 Low 6.16 Bid Price 6.16 Offer Price 6.18 Value 736869.36 Volume 119300 Fonterra said it had sold its 9 per cent stake in Australia's Bega Cheese, which it has held since 2013, for A$74 million. The sale of the stake would not affect Fonterra's long-standing relationship with Bega, which includes a license on the Bega brand and a supply contract for cheese, the co-operative said.

READ MORE:• Milk powder price dip picked• Fonterra hits production seasonal peak "We are focused on investing in higher value add dairy products that deliver the best returns for our shareholders," chief financial officer Lukas Paravicini said in a statement to the ASX. "Releasing capital, such as through this sale, for future growth is the best use of our shareholders' funds," he said. Fonterra did not disclose the identity of the buyer. Read more by Jamie Gray Email Jamie Gray Get the news delivered straight to your inbox Receive the day’s news, sport and entertainment in our daily email newsletterFonterra's planned sale of its Riverina Fresh business at Wagga Wagga, including the manufacturing site and widely respected brand, is expected to be completed during October, Fonterra Australia is selling its 94-year-old southern NSW processing business at Wagga Wagga to the newly-formed investment outfit, Blue River Group. Fonterra Australia is selling its 94-year-old southern NSW processing business at Wagga Wagga to the newly-formed investment outfit, Blue River Group.The sale covers the Wagga Wagga manufacturing site and the Riverina Fresh brand, but no price has been disclosed.

The deal is expected to be completed the sale during October, but is still subject to a number of conditions by both the parties.All Fonterra’s employees in the Wagga Wagga business have received offers of employment from Blue River, which established last year as an investment services firm.Blue River undertakes investment projects and deals with the aim of generating economic returns for investors and achieving “measurable social or environmental outcomes”.The firm describes itself as a "profit with purpose" impact investment business.Fonterra’s Australian managing director, René Dedoncker, said the Wagga business was strong but not core to the New Zealand-owned co-operative’s ingredients, consumer and foodservice business strategy in Australia.“Divesting the Wagga Wagga business follows the divestment of other non-core assets, including our yoghurt and dairy desserts business, our Bega shares and our stake in Dairy Technical Services,” he said.“It allows us to focus and put all our energy into our core businesses of ingredients, consumer and foodservice.“

Our Australian operations have particular ingredients strengths in cheese, whey and nutritionals, matched by our manufacturing footprint in Victoria and Tasmania.”Blue River Group’s founder and co chief executive officer, Craig Shapiro, said buying Riverina Fresh reflected his company’s ethos of investing in businesses which generated economic returns while also achieving “positive and measurable social or environmental outcomes”.“The Wagga Wagga dairy business and the iconic Riverina Fresh brand provide Blue River Group with a fantastic opportunity to invest in the agricultural sector and the Riverina regional community,” Mr Shapiro said.Riverina Fresh has been producing  milk, cream and yoghurt products since 1922.It is supplied by about 20 dairy farms in southern NSW, whose contracts will continue under the new management.Riverina Fresh milk has developed a reputation as Australia’s leading coffee milk brand, and is widely regarded by baristas and roasters alike.Rob Collier, who will remain as CEO of the Wagga business, said Blue River’s investment in Riverina Fresh would help the niche brand flourish.“

The company is committed to the ongoing success of the Wagga Wagga business, the sustainability of the dairy industry, and the broader regional community.”Fonterra, meanwhile, has pointed to its recent investment in supporting its cheese and spread brands – Western Star, Perfect Italiano and Mainland, and the Bega brand which is marketed via Fonterra’s distribution network.It has also launched NZ’s powerful Anchor brand in Australia.“In the past 12 months, we’ve commissioned a multi-million beverages plant in Cobden, creating over 50 local jobs; secured new long-term customers for our nutritionals plant in Darnum including Bellamy’s Organics as well as entering into a joint venture agreement with Beingmate; and we’re building a new state-of-the-art cheese plant in Stanhope which is on track for completion mid-2017,” Mr Dedoncker said.“These initiatives have laid the foundation for a strong sustainable business that is profitable for the long-term and well-positioned to pay our farmers the best possible milk price in a competitive global market.”