Schwan Food Co., USA sells European pizza business

The Schwan Food Company says it's selling its European frozen-pizza businesses to Dr. Oetker UK Ltd, and the Freiberger Group.

Dr. Oetker will acquire the pizza production plant in Leyland, England, and the Chicago town frozen-food brand. It will also be allowed to sell Freschetta and Tony's brands in Europe through a licensing agreement with Schwan, which is based in Marshall.

Schwan says in a release that it decided to sell part of its European business so it can focus on the growth of its business in North America.

The company says the agreements were signed Tuesday and it expects sale to be finalized by year's end.

Schwan will keep a production facility in northern France.

Source: www.examiner.com