Schwan’s Sold to South Korean Company

Schwan’s Company, a leading U.S. food business, announced Thursday it has reached an agreement to sell a majority stake of the company to CJ CheilJedang (CJCJ), of Seoul, South Korea.Schwan’s Company began in 1952 as a one-man-and-a-truck home-delivery business operating in rural Minnesota. Today, Schwan’s is a leading U.S. food manufacturer and marketer with approximately 12,000 employees and trusted brands like Schwan’s® fine foods, Red Baron®, Freschetta® and Tony’s® pizza, Edwards® and Mrs. Smith’s® desserts, Pagoda® Asian-style foods and Schwan’s® Home Delivery.