date:Oct 11, 2012
Industrial group Famous Brands has entered into a joint venture with Coega Dairy, a dairy manufacturing business in Port Elizabeth, South Africa. The joint venture will manufacture cheese products for Famous Brands.
Famous Brands will hold 51% stake in the joint venture, which will be known as Famous Brands Cheese Manufacturing, with Coega Dairy holding the rest. The joint venture's first-year annualized turnover is forecast to be nearly ZAR180m ($20.26m).
As a part of the joint venture, a che