South Korean-based CJ CheilJedang will acquire an 80% stake of Schwan’s Co.

South Korean-based CJ CheilJedang will acquire an 80% stake of Schwan’s Co. and certain subsidiaries in the retail, grocery and foodservice markets. Schwan’s will retain a 20% stake in those businesses along with full ownership of Schwan Home Service, its home delivery business. Schwan’s will be operated as a subsidiary of CJ Foods America Corp., operations will continue to be headquartered at the Minnesota-based corporate offices and current senior management will remain in place.

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