CJ CheilJedang to acquire 44% of ChunLab (now CJ Bioscience) for KRW 98.3bn
- Deal value
- $68m
- Stake
- 44%
- Implied 100%
- $154m
- Revenue
- $4m
- Op. income
- -$6m
- Multiples
- PSR 42.2x
Deal value ÷ stake (structure unconfirmed)
2020 연결 · DART-verified
2020 연결 · DART-verified
On implied equity value
DART 20220621000380
- Target
- ChunLab (now CJ Bioscience) · Microbiome biotech
- Buyer
- CJ CheilJedang · SI
- Seller
- Cheon Jong-sik and Shanghai ZJ Bio-Tech (old shares) + new shares
- Structure
- —
- Announced
- Jul 21, 2021
- Closed
- —
- Stage
- Announced
Target
ChunLab (now CJ Bioscience), founded in 2009 and KOSDAQ-listed in December 2019, specializes in microbiome research and development and holds about 5,600 physical microbial strains, described as Korea's largest collection.
Deal rationale
CJ CheilJedang said microbiome is seen globally as a next-generation technology and the ChunLab acquisition was a strategic investment needed to secure future growth, combining its microbial strain and fermentation technology with ChunLab's microbiome analytics and big data to focus on next-generation drug development. It described entering red bio after green and white bio and applying the technology to personalized health functional foods. The deal comprised 625,233 existing shares (15.99%) from CEO Chun Jong-sik and Shanghai ZJ Biotech plus new shares via a third-party placement, totaling 2,580,157 shares (43.99%) for about KRW 98.3 billion (Bizhankook).
| Revenue | $4m |
| Operating income | -$6m |
| EBITDA | — |
| Net income | — |
2020 연결 · DART-verified · 20220621000380
Press coverage
- 비즈니스워치 (2021-07-21): “인수 금액은 약 983억원이다.”
- SBS Biz (2021-07-21): “기존 주식과 유상증자를 통해 발행되는 신주를 합쳐 44%의 지분을 확보하게 됩니다”
- 비즈한국 (2021-08-03): “마이크로바이옴 기술의 진보 속도가 굉장히 빠르기 때문에 시장 선점이 중요하다.”
This is a data entry summarising filings and press reports. Please check the original sources for the figures.