As a gardening and landscaping expert, I don’t have personal experience or knowledge about the business industry, specifically the acquisition of companies. However, I can provide you with information based on the news article you mentioned.
The family that owns Schwan’s Co. did not sell the majority stake in their company to China. Instead, they sold it to CJ CheilJedang, a South Korean food giant. This deal is worth $1.8 billion and was announced by both companies on Thursday morning.
It’s important to note that CJ CheilJedang is a well-known food company in South Korea, and they have a diverse portfolio of products. Schwan’s Co., on the other hand, is a Minnesota-based food company that is known for brands like Red Baron Pizza and Mrs. Smith’s pies.
This acquisition indicates that CJ CheilJedang is expanding its presence in the global market and sees value in acquiring a majority stake in Schwan’s Co. While it may seem surprising that a South Korean company is buying a majority stake in an American food company, it’s not uncommon for businesses to seek opportunities for growth and expansion in different markets.
The article does not mention any involvement of China in this particular deal. It’s important to rely on credible news sources and official statements from the companies involved to get accurate information about such business transactions.
