Daesang Corp., South Korea’s largest corn processing and food ingredients company, agreed to acquire German pharmaceutical amino acid manufacturer AMINO GmbH for ₩50.2 billion ($34 million), marking its entry into the specialized pharmaceutical biotech sector.
The Seoul-based company said it expects to complete the acquisition by March, pending regulatory approvals. AMINO, established in 1958, produces pharmaceutical-grade amino acids used in intravenous solutions, clinical nutrition products, and cell culture media for biopharmaceuticals from its facilities in Frellstedt, Germany.
Daesang characterized the deal as a strategic pivot toward higher-value pharmaceutical ingredients, citing the pharmaceutical-grade amino acid market’s estimated 10% annual growth rate. The company pointed to aging populations and expanding biopharmaceutical production as demand drivers.
The acquisition represents a modest premium for a company that reported approximately $36 million in annual revenue, according to industry data. Daesang will gain European regulatory approvals and access to AMINO’s customer relationships with global pharmaceutical and clinical nutrition providers.
Whether Daesang can successfully integrate the German operation and compete against established players like Ajinomoto and Evonik remains to be seen. The company’s CEO, Lim Jung-bae, indicated plans to expand the business into North America and Asia while pursuing synergies with Daesang’s existing feed-grade amino acid operations.
