Latest news with #Schwan
Axios
a day ago
- Business
- Axios
Restaurant roundup: More tacos for LynLake, Inver Grove Heights' new bookstore cafe
Fried chicken and tacos are coming to two prominent restaurant spots in LynLake. BirdEz, a halal chicken tender eatery that previously had an outpost in Blaine's Northtown Mall, has signs up at the former Famous Dave's location on West Lake Street. Its Instagram bio has also been changed to "coming soon." The old Lago Tacos space on Lyndale, which emptied last month, has already found a new tenant in Aurelias Mexican Uptown, per signs on the door. It will be open until midnight and its food truck is already operating in the back lot. 📖 ICYMI: Inver Grove Heights has a new bookstore cafe. Cuppa More Pages opened last month and advertises itself as a "life-sized Little Free Library," where guests can take or leave books on the coffee shop's shelves. 🍩 Angel Food Bakery is expanding to Hopkins' Main Street. The St. Louis Park spot known for its doughnuts will slowly take over Amy's Cupcake Shoppe, keeping the same staff and merging menus before eventually renaming it to Angel Food, according to Minneapolis/St. Paul Magazine. :cake: Edwards Dessert Ki tchen in North Loop is shutting down June 29 after seven years in busin ess, it announced on social media. The owner, the Schwan's food company, said its "decision to close was not the result of declining business. It's simply a reflection of redirecting our resources and focus to other culinary endeavors," per the Minneapolis/St. Paul Business Journal. 🍸 Local spirits company Dashfire is closing its in-house cocktail bar after two-and-a-half years in operation. Elusive Botanical Bar, which also served as a spot for visitors to test and weigh in on Dashfire's spirits, will hold its last service June 28.
Korea Herald
11-02-2025
- Business
- Korea Herald
CJ CheilJedang ramps up K-food expansion as overseas sales reach nearly half of revenue
Korean food giant CJ CheilJedang's overseas food business revenue neared 50 percent of total sales last year, as the company expanded its K-food footprint beyond North America into Europe and other global markets. CJ CheilJedang announced Monday that its 2024 revenue, excluding CJ Logistics, dipped slightly by 0.1 percent to 17.87 trillion won ($12.29 billion). However, operating profit soared by 26 percent to 1.03 trillion won, fueled by robust overseas growth. The core food business saw a 0.8 percent revenue increase, reaching 11.35 trillion won, though operating profit declined by 5.3 percent to 620.1 billion won. While domestic food sales fell by 1.8 percent to 5.77 trillion won, overseas sales grew by 3.6 percent to 5.58 trillion won. Over the past five years, CJ CheilJedang's overseas food business revenue has skyrocketed by 77 percent, climbing from 3.15 trillion won in 2019. The proportion of overseas revenue also expanded from 39 percent to 49.2 percent of total sales. The company continues to strengthen its presence in key regions, including North America, Europe and Australia. Sales of its global strategic products have seen significant increases, with kimchi up 38 percent, instant rice products up 22 percent and mandu products up 18 percent. North America remains CJ CheilJedang's largest overseas market, accounting for 84 percent of total overseas sales, with revenue reaching 4.71 trillion won. Bibigo Mandu, the region's top-selling product, maintained a dominant lead, outselling the second-largest dumpling brand by more than threefold. Schwan's flagship pizza brand, Red Baron, further strengthened its market leadership. CJ CheilJedang's annual sales in Europe surpassed 100 billion won for the first time, since it entered the market in the late 2010s. The company has accelerated its entry into new markets like France and Spain while expanding product availability through major European retail chains. In Australia, CJ CheilJedang successfully expanded its retail footprint beyond popular supermarket chain Woolworths to include Coles and IGA. Its bibigo products are now available in 80 percent of the country's major retail stores. "We will accelerate the expansion of K-food worldwide with the launch of a new North American Asian food plant in South Dakota in 2027 and the operation of a European plant in Hungary in 2026," a CJ CheilJedang official said. Looking ahead, CJ CheilJedang aims to globalize its "mega-hit products" further, including its Gourmet Sobaba Chicken and Bibigo Whole Shrimp Mandu.
