– Samhwa Co., Ltd. (“Samhwa”), a South Korean cosmetics packaging company, announced the completion of an investment from funds managed by KKR.
– KKR will fully acquire Samhwa from TPG at a valuation of KRW 733 billion (~US$528 million).
– Founded in 1977 as a mold development and manufacturing company, Samhwa has become a leading cosmetic packaging supplier for the high-end cosmetics industry.
– Samhwa serves more than 300 cosmetic brands, including leading independent Korean and global luxury brands.
– Korea ranks among the world’s top three cosmetics exporters, alongside France and the United States.
– Samhwa is one of the top cosmetic packaging producers in Asia and among the top ten globally.
– The company specializes in air-tight cushion packaging and airless pump technology.
– Samhwa operates an R&D center, offering bespoke product design and full in-house services from development to delivery.
– CEO Jun-bae Kim said Samhwa aims to be the partner of choice for major luxury brands globally, emphasizing innovation and quality.
– Hi Joo Hong, Director of Private Equity at KKR, described Samhwa as a differentiated packaging supplier central to the K-Beauty ecosystem and highlighted KKR’s support for its global expansion.
– Scott (ShinWon) Yoon, Business Unit Partner at TPG Capital Asia, noted TPG’s role in supporting Samhwa’s transformation and premium product innovation since 2023.
– TPG helped transition Samhwa from a family-owned business to a leading enterprise in the cosmetics packaging industry.
– With KKR’s backing, Samhwa plans to continue expansion and strengthen its global position.
– KKR’s investment comes primarily from its Asian Fund IV and K-Series.
– This adds to KKR’s track record of Korean investments, including MUSINSA, SK E&S, Ecorbit, HD Hyundai Marine Solution, KCF Technologies, LS Automotive, and Oriental Brewery.
