Bega Cheese has made a bold strategic shift with a $460 million deal taking the dairy processor into branded consumer goods after snapping up names such as Vegemite and KRAFT Mac & Cheese from Mondelēz International's Australia and New Zealand business.
The surprise deal pushed Bega's shares up more than 15 per cent, or 68c to $5.16 on Thursday – their highest close in nearly three months.
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Carrie LaFrenz is a senior journalist covering retail/consumer goods. She previously covered healthcare/biotech. Carrie has won multiple awards for her journalism including financial journalist of the year from The National Press Club. Connect with Carrie on Twitter. Email Carrie at carrie.lafrenz@afr.com
Jessica Gardner is Deputy editor - News. She has previously edited the Companies and Markets section. Connect with Jessica on Twitter. Email Jessica at jgardner@afr.com
