Daesang Group Acquires 20% Stake in China's Qingfu Group
Daesang announced that it has acquired a 20% stake in Heilongjiang Fook Food Group Co., Ltd. (Qingfu Group), a lysine production company in China. Lysine is a green bio material added to feed to aid livestock growth.
According to the Financial Supervisory Service's electronic disclosure system, Daesang invested 8.8425 billion KRW on the 20th to purchase a 20% stake in Qingfu Group. The acquisition was delayed three times since 2022 before being completed on this day.
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Through acquiring shares in Qingfu Group, Daesang plans to establish a manufacturing base in China and expand its amino acid business. Daesang explained, "The purpose of acquiring the stake is to utilize it as a supply base for functional feed amino acids through minority share investment."
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