CJCJ to Sell Stake in CJ Foods America to Bain Capital Credit for $320 Million
June 12, 2019
Cleary Gottlieb is representing CJ CheilJedang (CJCJ) in its $320 million sale of a 27% stake in CJ Foods America Corp., a subsidiary of CJCJ that owns a 70% stake in Schwan’s Co., to Bain Capital Credit.
The transaction was announced on May 23, 2019 and closed on June 12, 2019.
Cleary previously represented CJCJ in its $1.7 billion acquisition of a controlling 70% stake in Schwan’s Co. in February 2019.
CJCJ is the largest food producer in South Korea. Schwan’s Co. is a leading frozen food company based in the United States.