Sajo Daerim (Sajo Group) to acquire 100% of Ingredion Korea for KRW 384bn
Not yet reviewed: summarised from filings and press reports; figures may differ between reports. Please check the original sources.
- Deal value
- $265m
- Stake
- 100%
- Implied 100%
- $265m
- Revenue
- $318m
- Op. income
- -$9m
- Multiples
- PSR 0.8x
Deal value ÷ stake (structure unconfirmed)
2022 · Multiple reports agree
2022 · Multiple reports agree
On implied equity value
- Target
- Ingredion Korea · Starch & sweetener ingredients
- Buyer
- Sajo Daerim (Sajo Group) · SI
- Seller
- Ingredion Inc. (US)
- Structure
- —
- Announced
- Nov 10, 2023
- Closed
- —
- Stage
- Signed
Target
Korean unit of US ingredient maker Ingredion, producing starch, starch sweeteners and functional food ingredients from corn and potatoes. It traces back to Dongyang Foods (founded 1979) and was renamed Sajo CPK after the deal.
Deal rationale
Sajo Group (Vice Chairman Joo Ji-hong) said the deal would strengthen the ingredient side of its existing food businesses such as edible oil, sauces and flour (eToday). A Sajo Daerim official said the purpose was to reinforce the food portfolio and expand synergies with existing operations (Dealsite). The company said it would focus on expanding high value-added products such as functional foods and food tech.
| Revenue | $318m |
| Operating income | -$9m |
| EBITDA | — |
| Net income | — |
2022 · Multiple reports agree (not yet checked against DART)
Press coverage
- 이투데이 (2023-11-13): “‘인그리디언 코리아’ 지분 100%를 3840억 원에 인수하는 계약을 체결”
- IB토마토 (2024): “사조대림, M&A로 외형 확대됐지만…차입금 부담”
- 딜사이트 (2023-11-10): “식품사업부문의 포트폴리오를 강화하고 기존 사업과도 시너지 효과를 확대하기 위해서다”
- 더팩트 (2025-07-17): “미국계 전분당 기업 인그리디언코리아를 3840억원을 들여 인수했다”
This is a data entry summarising filings and press reports. Please check the original sources for the figures.