How your favourite iconic 'Australian' brands secretly owned by multi-billion dollar foreign companies are coming BACK into Aussie hands

Some iconic Australian brands will soon be 100 per cent Australian owned and operated once more after years of overseas manufacturing.

Bega Cheese has bought out umbrella brand Lion Dairy and Drinks, which includes Dairy Farmers, Farmers Union, Yoplait, Big M and Daily Juice. 

The acquisition means the brands will return to Australia after almost a decade of international ownership.   

'Dairy Farmers and Farmers Union were founded before federation, some 120 years ago, and some dairy farming families that have supplied dairy farmers for that entire period of time,' Executive Chairman Barry Irvin told A Current Affair.

Bega's popularity has soared in recent years, now famous for more than just its cheese following expansion into the wider grocery business.

Bega Cheese has bought out umbrella brand Lion Dairy and Drinks, which includes Dairy Farmers, Farmers Union, Yoplait, Big M and Daily Juice (pictured, Executive Chairman Barry Irvin)

The brand is expected to earn a whopping $3billion revenue each year. 

Australian businessman Dick Smith applauded the brand for returning foreign owned companies to Australia.

'It's absolutely fantastic to think that all these brands that were foreign-owned and bought by big American companies and European companies are now coming back to Australian hands,' he said. 

'People talk about Australian made and that's good, but Australian made and owned is important because the profits stay here, the wealth stays here.'

Bega's meat processing businesses will expand from four factories to 15 following the acquisition.

Bega's meat processing businesses will expand from four factories to 15 following the acquisition

New factories will be built in North Queensland, Hobart, Perth and Adelaide.

Bega acquired Vegemite in 2017 from Mondelez in the United States, and also owns the nation's most successful peanut butter brand.

Arnotts, Bushells and Golden Circle are just three Australian brands recently purchased by foreign companies.

But Aussies are increasingly setting their sights on buying Australian owned and manufactured products regardless of the price tag.   

'They'll always be a little more expensive because we pay decent wages here, we share the wealth better than most countries,' Mr Smith said.

Bega acquired Vegemite in 2017 from Mondelez in the United States, and also owns the nation's most successful peanut butter brand (pictured, Executive Chairman Barry Irvin)