Minnesota Food Distributor Schwan’s Being Sold to South Korean Firm in $1.8B Deal

Schwan’s Co., the Minnesota food distributor known for the home deliveries made by its distinctive gold trucks, is being sold to South Korea’s largest food company. CJ CheilJedang will pay $1.8 billion for an 80 percent stake in Schwan’s and gain control of Schwan’s businesses that serve restaurants, groceries and other retailers. With Schwan’s, CJ CheilJedang will pick up 17 food manufacturing facilities and 10 distribution centers across the United States. CJ CheilJedang currently has five U.S. manufacturing and distribution sites.

CJ CUP Tees Off for a Second Year on Jeju Island

The second edition of the CJ CUP @ NINE BRIDGES kicks off in Jeju tomorrow and players will once again tee off for Korea’s only PGA Tour event at the Club at Nine Bridges. The 78-player field looks tougher than last year as it includes 12 major champions competing in the tournament this weekend. All 78 participants will play through the weekend with a total prize money pot of $9.5 million and 500 FedEx Cup points.