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| ▲ Products made by Samwha Co. are seen in this screen-capture photo from the company's official home page. (Yonhap) |
global equity fund-Korean firm
KKR acquires S. Korean cosmetics container maker for 733 bln won
SEOUL, Sept. 5 (Yonhap) -- Global investment firm Kohlberg Kravis Roberts & Co. (KKR) has acquired a South Korean cosmetics container maker for 733 billion won (US$526.6 million), industry sources said Friday.
According to the sources, KKR has recently decided to acquire the entire stake in Samhwa Co. owned by Tarrant Capital LLC (TPG), a U.S. alternative investment firm.
TPG had acquired Samhwa 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.
The acquisition comes as global private equity firms make aggressive investments in local companies within the beauty and wellness sector, amid the worldwide popularity of K-beauty products and services.
On Tuesday, 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.
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