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CJ Corp buys US frozen food maker Omni

By Dominique Patton, 21-Nov-2006

Related topics: Industry drivers

South Korea's CJ Corp has signed a memorandum of understanding to buy 85 per cent of the Los Angeles-based frozen food processor Omni Food for US$6.8 million, it said yesterday.

Omni produces dumplings, noodles, frozen rice and processed-meat products under the Ohana brand and also supplies Korean food makers Daesang and Pulmuone, according to the Chosun Ilbo. It recorded US$5.5 million in sales last year.

The South Korean firm that started out as a sugar refining subsidiary of the Samsung group now markets a range of processed food and commodities around the world. It is now looking for expansion in the US market, aiming to make W120 billion in sales there by 2013.

In a press release the company said that the takeover of Annie Chun's last year was designed to secure a bridgehead in the US market. The acquisition of Omni will see it start to produce and sell its products in the US in earnest.