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Vegemite goes home: Oreo maker sells to Australia's Bega

Vegemite, the salty, brown spread beloved in Australia, is going home, purchased by an Australian dairy company from the maker of Oreos.

Mondelez International Inc. said Wednesday it was selling Vegemite and other Australian and New Zealand grocery products to Bega Cheese in a deal worth about $345.3 million (460 Australian dollars).

Deerfield, Illinois-based Mondelez said it plans to focus on other products like Oreo cookies and Cadbury chocolate.

The sale was welcomed by many Australians who complain that iconic Down Under brands, including Foster's beer and Speedo swimwear, have been sold to foreign companies.

"This is the best news I've heard for a...

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