Fred Walker Company employed a chemist named Dr. Cyril Callister who invented Vegemite in the year 1922. Kraft Foods Inc. bought all rights and the recipe in the year 1935. Vegemite is made from the extract of yeast and is an Australian food paste whose color is dark brown. On toast, crumpets, cracker biscuits and sandwiches it is spread and is also used for pastries filling.