Global investment firm Kohlberg Kravis Roberts & Co. (KKR) took over a Korean cosmetics container maker for 733 billion won (USD 526.6 million). The company has recently planned to acquire the entire stake in Samhwa owned by Tarrant Capital (TPG), a U.S. alternative investment firm.
Samhwa was acquired by TPG for 30 billion won two years ago. Established in 1977 as a mold-making firm, Samwha manufactures cosmetic containers for various local and international brands including major global luxury names like L’Oréal, Estée Lauder, Chanel, and LVMH.
The acquisition comes as global private equity firms make aggressive investments in local companies within the skin care as well as wellness sector, amid the global trend of K-beauty products and services.
The U.S. alternative asset manager Blackstone Inc. agreed to make a significant investment in local hair care business JUNO, though the financial terms of the deal were not disclosed.
In a move signaling global investor confidence in Korea’s beauty supply chain, KKR plans to leverage its expansive global network to bolster Samhwa’s partnerships with leading luxury brands and drive international growth.
In a related development, U.S. alternative asset manager Blackstone has struck a significant investment in local hair care business JUNO, although financial details were not disclosed.