South African conglomerate Tiger Brands has been hit with a ZAR98.7m (US$14.7m) fine for its participation in bread and milling cartels in the country.

The company, which owns the Albany bread brand, reached a deal with South Africa's Competition Commission after being found guilty of breaking competition law.

Tiger Brands, alongside Premier Foods, had applied for leniency in return for helping the watchdog with its probe into the cartel.

Premier Foods was granted conditional immunity for its participation in cartels in both sectors. Tiger Brands, on the other hand, only qualified for immunity from its role in the milling cartel.

Competition Commissioner Shan Ramburuth said the Commission would seek higher fines for other members of the cartel that have not cooperated.