Global private equity firms snap up K-beauty assets

Global private equity firms are snapping up beauty-related companies in Korea, driven by growing consumer demand across the world, industry officials said Sunday. KKR, a leading global private equity firm, said Thursday that it has acquired Samhwa for 733 billion won ($527.5 million) from TPG Capital Asia. Established in 1977, Samhwa specializes in producing plastic containers and pumps used to dispense cosmetic products. Last year, the company recorded 186.8 billion won in revenue and 31.4 billion won in operating profit. The acquisition is driven by KKR’s recognition of Samhwa’s unique competitive edge and the growing global demand for K-beauty products. Around 60 percent of its sales come from multinational clients such as L'Oreal, Estee Lauder, Chanel and LVMH. On Tuesday, Blackstone said that it signed a definitive agreement to make a significant investment in Juno Hair, Korea’s largest hair salon franchise. While the investment amount was not disclosed, industry sources said the private equity firm valued the company at approximately 800 billion won. Founded in 1982 with its fWeiter zum vollständigen Artikel bei Korea Times Weiter zum vollständigen Artikel bei Korea Times