Daesang acquires German amino acid firm at W50b

Daesang will enter the pharmaceutical biotech sector by acquiring Amino GmbH, a German amino acids manufacturer, for 50.2 billion won ($34 million), the company said Thursday. According to the Korean food company’s regulatory filing Wednesday, it is currently undergoing procedures to obtain approval for the acquisition, with a plan to complete the takeover by March. Daesang underscored that the pharmaceutical-grade amino acid market is growing 10 percent annually, as an aging population and expa