CJ Cheiljedang, a subsidiary of CJ Group, is considering acquiring a U.S.-based food processor, a move that would boost the company’s international presence. Although the company did not confirm its potential target, media reports suggest the company is Marshall, Minn.-based Schwan’s Co.
“We are reviewing purchasing a U.S. processed food maker as part of efforts to boost competitiveness in our overseas foods business, but nothing concrete has been decided,” CJ Cheiljedang noted in a June 7 regulatory filing.
According to The Investor, the transaction may be valued at an estimated $2.8 billion.
Schwan’s Co. did not respond to a request for comment on the potential transaction.
Schwan’s Co. makes products under the Schwan’s, Red Baron, Freschetta, Tony’s, Mrs. Smith’s, Edwards, Pagoda and Larry’s brands, and sells frozen foods from home delivery trucks, in grocery stores, by mail and to the food service industry. Schwan’s is the second largest frozen pizza maker, trailing only Nestle.
Founded in 1953, CJ Cheiljedang has operations in food ingredients (including sugar, wheat and oil), food, pharmaceuticals and biotechnology.
By Eric Schroeder
Source: Food Business News
Diageo has today (10 November 2025) announced the appointment of Dave Lewis to the role of CEO and executive director, effective 1 January 2026. Lewis steps into the role following the departure of former CEO Debra Crew, who stepped down in July. Nik Jhangiani, the company’s chief financial officer, has been serving as interim CEO since.
Before joining TBG, Chibe served as CEO of Pabst Brewing Company. His previous roles include president and CEO of Ferrero North America, US chief marketing officer at Anheuser-Busch InBev and senior leadership positions at Wrigley.
Located in Southern Minas Gerais, the brewery aims to enhance the company’s supply chain by bringing production closer to key consumer hubs in Brazil’s Southeast region. With an initial capacity of up to five hectolitres per year, the plant will produce Heineken and Amstel products – both 100% pure malt brands.
