Bega plans to spread Vegemite’s allure to Asia
BEGA Cheese chairman Barry Irvin says the dairy and food group will ramp up efforts to introduce foreign tastebuds to the salty pleasures of Vegemite.
Bega will also move to breathe new life into its local marketing effort to ensure Vegemite remains a pantry staple in modern, multicultural Australia.
Mr Irvin spoke as Bega prepared to take control of Vegemite with its $460 million deal to buy the famous spread from US food giant Mondelez, due to be officially signed off on last night.
The deal returns Vegemite to Australian ownership and hands Bega a suite of other brands, including ZoOSh and Bonox, as well as a manufacturing plant in Port Melbourne.
Aussie expats have been able to get their Vegemite fix in destinations such as the UK, but Mr Irvin said Bega, which exports to 40 countries, was keen to broaden the spread’s appeal by looking at new markets such as Asia.
“We are an exporting company that looks to take products into other markets,” he said.
“I don’t say we plan to convert the world to Vegemite, but we have been successful in establishing the Bega brand in more than 40 countries around the world and we aim to leverage those channels.”
Bega has sold two dairy plants and tapped shareholders for a $160 million capital injection to help fund the Mondelez deal.