It was formed in 1999 largely in response to the high market share of those companies, and the increasingly frequent take-over of previously Australian-owned companies, including Arnott's and Pauls. In particular, Smith was concerned that many companies which were no longer Australian owned still marketed their products as "Australian": the iconic Australian breakfast spread Vegemite, for example, was owned by Kraft Foods (now known as Mondelēz), which in turn was (until 2007) owned by the Altria Group (formerly known as tobacco giant Philip Morris).