JOHANNESBURG Oct 9 Industrial group Famous Brands has formed a joint-venture with Coega Dairy that will manufacture a variety of cheese products, the company said on Tuesday.
Coega Dairy is a dairy manufacturing business owned by local farmers, factory and farm employees. Famous Brands will control 51 percent of the joint venture, to be named Famous Brands Cheese Manufacturing Company, with Coega Dairy owning the rest.
The joint venture's first-year annualised turnover is expected to be around 180 million rand ($20.26 million). ($1 = 8.8828 South African rand) (Reporting by Agnieszka Flak)