South Korea’s CJ Doubles Down on US Food Market

South Korean food giant CJ CheilJedang is continuing its aggressive expansion into the U.S. market, with the recently announced acquisition of American frozen food maker Schwan's. The acquisition, the largest-ever by CJ CheilJedang, will more than quadruple the number of its food-processing factories in the U.S. to 22. By bringing Schwan's under its umbrella, CJ CheilJedang intends to tap the entire U.S. market, including smaller cities.

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.