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.
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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.”
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