Schwan’s Company Sells Majority Stake to CJ CheilJedang
The transaction will include 80% of Schwan’s Company and specific subsidiaries that focus on foods sold in retail and grocery channels and food-service venues
Schwan’s Company, a US food business, announced that it has reached an agreement to sell a majority stake of the company to CJ CheilJedang (CJCJ), of Seoul, South Korea.
The transaction will include 80% of Schwan’s Company and specific subsidiaries that focus on foods sold in retail and grocery channels and food-service venues. The Schwan family will retain 20% ownership in the businesses being sold to CJCJ and will also retain 100% ownership in Schwan’s Home Service, Inc., which represents the legacy home-delivery business that Marvin Schwan launched in 1952.