Schwan’s Company has sold an 80% stake in its business to South Korean firm CJ CheilJedang (CJCJ).

Schwan’s currently has around 12,000 employees and operates brands such as Red Baron, Freschetta, Tony’s Pizza, Edwards and Mrs Smith’s Desserts. The company will now operate as a subsidiary of CJCJ.

Announced in November last year, the transaction also included the purchase of Schwan’s manufacturing and logistics operations, as well as various professional and administrative services.

“CJCJ is a strong global company that brings a proven commitment to making bold investments in future growth.”

Schwan’s CEO Dimitrios Smyrnios said: “By combining our operational capabilities with CJCJ, we are creating a much stronger business that will benefit everyone who has a stake in our success.

“CJCJ is a strong global company that brings a proven commitment to making bold investments in future growth, whether it’s in product innovation, brand building or manufacturing and logistics infrastructure.

“And CJCJ will benefit greatly from Schwan’s talented employees, iconic brands, expansive distribution network and manufacturing capabilities, and insights into the US food consumer and marketplace.”

How well do you really know your competitors?

Access the most comprehensive Company Profiles on the market, powered by GlobalData. Save hours of research. Gain competitive edge.

Company Profile – free sample

Thank you!

Your download email will arrive shortly

Not ready to buy yet? Download a free sample

We are confident about the unique quality of our Company Profiles. However, we want you to make the most beneficial decision for your business, so we offer a free sample that you can download by submitting the below form

By GlobalData
Visit our Privacy Policy for more information about our services, how we may use, process and share your personal data, including information of your rights in respect of your personal data and how you can unsubscribe from future marketing communications. Our services are intended for corporate subscribers and you warrant that the email address submitted is your corporate email address.

Schwan’s current senior management team will continue to operate the acquired business from its corporate offices in Bloomington and Marshall, Minnesota, US.

The company will also continue to independently operate its Schwan’s Home Service, holding 100% ownership.