What's Happening?
Kemin Industries, based in Des Moines, Iowa, has acquired CJ Youtell Biotech, a subsidiary of CJ Bio from Seoul, South Korea. This acquisition includes CJ Youtell's fermentation plants located in Shandong
and Hunan, China, and its enzyme product portfolio. The move is intended to bolster Kemin's capabilities in the enzyme market, particularly for industries such as animal feed, food, aquaculture, textiles, paper and pulp, and biofuels. Michelle Lim, president of Kemin Enzymes, highlighted the acquisition as a significant expansion of Kemin's enzyme capabilities, offering a fully integrated solution from strain development to final application support.
Why It's Important?
This acquisition is crucial for Kemin Industries as it strengthens its position in the global enzyme market, allowing it to offer more comprehensive solutions across various industries. The integration of CJ Youtell's fermentation expertise enhances Kemin's ability to innovate and meet the growing demand for enzyme-based solutions. This expansion could lead to increased market share and competitiveness for Kemin, benefiting its customers with improved product offerings and potentially driving advancements in enzyme technology.
