Bega saves hundreds of Aussie jobs by acquiring Kraft peanut butter factory

Bega might be famous for its cheese, but the company’s new nutty acquisition will keep Victorian factory workers in a job.

The New South Wales-based dairy company recently took over the former Kraft peanut butter factory in Port Melbourne, adding the “never oily, never dry” spread to its product portfolio.

Bega has confirmed the breakfast favourite will be made to the same recipe, and in the same factory, keeping hundreds of jobs on home soil.

The only changes will be to the jar’s packaging, with a new refreshed look set to be rolled on supermarket shelves in coming months.

This year Bega signed a $460 million deal with American company Mondelez International, which included a license to Kraft-branded cheese and peanut butter, along with Vegemite.

The move is expected to generate about $310 million in revenues and earnings for Bega, according to The Weekly Times.