Charter Hall Group agreed to acquire 1 Vegemite Way, Port Melbourne site of Bega Group from Bega Cheese Limited for approximately AUD 120 million.

Charter Hall Group (ASX:CHC) agreed to acquire 1 Vegemite Way, Port Melbourne site of Bega Group from Bega Cheese Limited (ASX:BGA) for approximately AUD 120 million on June 27, 2023. The Bega Group intends to continue the production of iconic brands including Vegemite and Bega Peanut Butter at the site. The funds from the sale will reduce debt and further support the Bega Group’s strategy and transition to a company focused on market leading brands.

Gavin Bishop and Sean Thomson of Colliers facilitated the sale.