A closure assembly includes a vented closure and a dispensing fitment. The closure includes an upper deck, a tubular hub extending downwardly from the upper deck, an annular outwardly threaded fitment neck extending upwardly from the upper deck, and a fitment seat surrounding the fitment neck. The fitment seat has a vent hole radially spaced from the hub. The dispensing fitment includes a fitment body, an arbor extending downwardly from the fitment body, an annular inwardly threaded sealing wall extending downwardly from the fitment body, and a dispensing neck extending upwardly from the fitment body. The arbor is movable between an open venting position and a closed position which blocks the vent hole.