CJ CheilJedang, the South Korea-based food manufacturer, has reportedly announced plans to buy two frozen-food companies – Kahiki Foods in the US and Germany’s Mainfrost.
South Korean news agency Yonhap said today (28 August) CJ CheilJedang expects to close the deals by next month.
Earlier this summer, CJ CheilJedang was reported to have been eyeing US frozen-foods group Schwan’s.
Ohio-based Kahiki Foods makes a range of frozen, Asian foods including side dishes such as sesame noodles and teriyaki noodles.
CJ CheilJedang has been working with German manufacturer MainFrost on the local production of a range of products.
In June, Seoul-based CJ CheilJedang responded to speculation it was targeting Schwan’s by issuing a stock-exchange filing that read: “As part of efforts to strengthen competitiveness in [the] overseas food business, we are considering the acquisition of a US processed food company but nothing has been decided so far.”
