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THE INVESTOR
June 30, 2022

Deals

CJ Cheiljedang to buy US, German firms

  • PUBLISHED :August 28, 2018 - 15:04
  • UPDATED :August 28, 2018 - 15:22
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[THE INVESTOR]

The acquisition of the US company will raise the number of the Korean firm’s production bases in the North American country to four from the current three.

The takeover of Mainfrost, meanwhile, came amid a growing popularity of CJ Cheiljedang’s signature dumpling brand, Bibigo, in Europe. Sales of Bibigo in Europe have more than doubled since it tapped the market last year, the company said.

CJ Cheiljedang said it will expand exports of Bibigo to global markets and continue active mergers and acquisitions to secure a stable market share in foreign countries by 2020.

Earlier this year, CJ Cheiljedang acquired a Russian frozen food company, Ravioli, for 30 billion won (US$26.80 million).

By Song Seung-hyun and newswires (ssh@heraldcorp.com)

CJ Cheiljedang said on Aug. 28 it will buy a US and a German frozen food company as it moves to expand its presence in overseas markets.

The Korean food maker said the deals with US-based Kahiki Foods and Germany’s Mainfrost are expected to be wrapped up by next month. The transaction prices were not disclosed. 

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