CJ Cheiljedang buys U.S., German frozen food firmsCJ Cheiljedang, Korea’s leading food manufacturer, said Tuesday it will buy U.S. and German frozen food companies as it moves to expand its presence in overseas markets.
The Korean food maker said the deals with U.S.-based Kahiki Foods and Germany’s Mainfrost are expected to be wrapped up by next month. The prices were not disclosed.
The acquisition of the U.S. company will raise the number of CJ production bases in the North American country to four from the current three.
The takeover of Mainfrost comes amid growing popularity of CJ Cheiljedang’s dumpling brand, Bibigo, in Europe.