KKR acquires Korean cosmetics container maker for $526.6 mil.
Products made by Samwha / Captured from Samwha's official homepage
Global investment firm Kohlberg Kravis Roberts & (KKR) has acquired a Korea Korean cosmetics container maker for 733 billion won ($526.6 million), industry sources said Friday.
According to the sources, KKR has recently decided to acquire the entire stake in Samhwa 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 agreed to make a significant investment in local hair care business JUNO, though the financial terms of the deal were not disclosed.