It originated in the United States as a family-owned business and in 2019 became a subsidiary of CJ CheilJedang of South Korea.

[2] Schwan's expanded to cover the Midwestern United States and made a number of acquisitions, including the Holiday Ice Cream Company and Russell Dairy.

An investigation found that the source of the contamination was a contractor's truck that had delivered ice cream pre-mix to Schwan's.

[5] In 1996, Schwan's introduced the Freschetta pizza line[6] and acquired La Roue du Pays d'Auge, a frozen foods producer in France.

[10] As of October 2023[update], Yelloh has been operated by Cygnus Home Service, LLC,[11] which is independently owned by members of the Schwan family.

[12] On September 23, 2024, Yelloh announced that the company would cease operations on November 8, 2024, citing "insurmountable business challenges".