Private equity group KKR has agreed to acquire Samhwa Co., a leading South Korean cosmetics packaging producer, in a transaction valued at 733 billion won ($528 million). The deal sees Samhwa change ownership from TPG, which had held a stake in the business since 2023.
KKR said the acquisition builds on its track record of investing in South Korean companies across sectors ranging from fashion retail to energy and recycling. Previous investments include Musinsa, SK E&S, and Ecorbit.
Founded in 1977, Samhwa began as a mould development and manufacturing company and has since developed into a global supplier of packaging solutions. The company serves more than 300 cosmetic brands worldwide, among them L’Oréal, Estée Lauder, Chanel, and LVMH.
Samhwa said it intends to use KKR’s global network to strengthen its partnerships with international luxury brands. The transaction also comes as South Korea consolidates its position among the world’s largest exporters of cosmetics, reflecting strong demand for Korean beauty products.
TPG, the Nasdaq-listed investment firm, had been an investor in Samhwa for less than two years before the sale.
The acquisition underscores continued private equity interest in premium packaging and the broader beauty supply chain, driven by robust global demand for cosmetics and luxury products.
