KKR Acquires K-Beauty Packaging Firm Samhwa in $528 Million Deal

KKR has acquired South Korean cosmetics packaging company Samhwa from TPG in a $528 million deal. The transaction expands KKR's portfolio in Korea and offers exposure to the K-beauty ecosystem. Samhwa specializes in air-tight cushion packaging and serves over 300 cosmetic brands globally. KKR is investing through its Asian Fund IV and K-Series fund. This is KKR's latest investment in Korea, following deals in fashion retailer Musinsa, energy provider SK E&S, and automobile component manufacturer LS Automotive.

KKR, a leading global investment firm, has acquired South Korean cosmetics packaging company Samhwa from TPG in a deal valued at 733 billion Korean won ($528 million). The acquisition expands KKR's portfolio in Korea and offers exposure to the K-beauty ecosystem [1].

Samhwa specializes in air-tight cushion packaging and serves over 300 cosmetic brands globally, including prominent luxury brands such as L'Oréal, Estée Lauder, Chanel, and LVMH. The company was founded in 1977 as a mold development and manufacturing company and has since grown to become a leading cosmetic packaging supplier [2].

The global popularity of the Korean cosmetics industry continues to grow, with Korea ranking among the world’s top three cosmetics exporters alongside France and the United States. Samhwa is today one of the top cosmetic packaging producers in Asia and among the top ten globally [3].

KKR is investing through its Asian Fund IV and K-Series fund. This is KKR's latest investment in Korea, following deals in fashion retailer Musinsa, energy provider SK E&S, and automobile component manufacturer LS Automotive. KKR aims to leverage its global network and operational expertise to help Samhwa achieve its next phase of growth [1].

The acquisition comes as South Korea's cosmetics industry gains global popularity and ranks among the world's top cosmetics exporters. Samhwa plans to leverage KKR's global network to deepen partnerships with major global luxury brands [1].

Jun-bae Kim, CEO of Samhwa, said, "We are thrilled to welcome KKR as our new investor as we embark on our next chapter of growth and innovation. We believe we are well-positioned to achieve our ambition to be the partner of choice for major luxury brands globally and as we continue to focus on delivering superior packaging solutions for the cosmetics industry. We would like to thank TPG for their partnership and support, and look forward to working with KKR, whose global network, operational knowledge, and strategic guidance will be invaluable as we continue to focus on innovation and quality that our customers and partners have come to expect" [2].

Scott (ShinWon) Yoon, Business Unit Partner, TPG Capital Asia, said, "We are proud to have been part of Samhwa’s journey, building a strong platform that will enable sustained growth while creating value through driving new product innovation, as well as improving efficiencies in production, shipment and delivery planning. It has been a pleasure driving this phase of transformation for Samhwa. We would like to thank Jun-bae and the entire team at Samhwa for their dedication and commitment and wish them continued success in the years to come" [2].

Additional details of the transaction were not disclosed.

References:
[1] https://finance.yahoo.com/news/kkr-buys-south-koreas-samhwa-063800869.html
[2] https://www.stocktitan.net/news/KKR/samhwa-secures-investment-from-kkr-to-drive-next-chapter-of-jeftt7xv5c3i.html
[3] https://www.businesswire.com/news/home/20250903881026/en/Samhwa-Secures-Investment-from-KKR-to-Drive-Next-Chapter-of-Growth