Fred Walker setup his import/export business in Hong Kong in 1903. He shifted his operations to Melbourne in 1908. Following upon financial difficulties the business was incorporated in 1921.
In 1925 Walker visited the United States and met with J.L. Kraft, the founder of the Kraft Cheese Company. The result of this meeting was an agreement between Walker and Kraft to establish a business in Australia to manufacture processes cheese under the Kraft patent. Hence the Kraft Walker Cheese Company Pty Ltd was formed.