Samhwa Co., Ltd., a South Korean cosmetics packaging company, announced that it has been fully acquired by KKR, a major global investment firm. KKR bought the company from TPG for about 733 billion Korean won (around $528 million).
Samhwa was founded in 1977 as a company focused on mold development and manufacturing.
Over the years, it has become a leading supplier of cosmetic packaging, offering complete packaging solutions for premium brands. Today, Samhwa serves over 300 cosmetic brands, including well-known Korean and global luxury companies.
The Korean cosmetics industry is becoming very popular worldwide, with Korea ranking among the top three cosmetics exporters along with France and the United States. Samhwa is now one of the leading cosmetic packaging companies in Asia and ranks among the top ten globally.
The company specializes in air-tight cushion packaging and airless pump technology. It has its own R&D center to design custom products for clients. Samhwa also provides complete services from product development, manufacturing, assembly, and inspection to delivery, ensuring end-to-end support for its customers.
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.”
Hi Joo Hong, Director, Private Equity, KKR, said, “Samhwa is a prime example of a differentiated packaging supplier at the heart of the K-Beauty ecosystem. KKR’s investment underscores its focused and selective approach of supporting leading Korean businesses in their growth strategy, including global expansion. We look forward to working with Samhwa’s management team and employees, leveraging KKR’s global network, operational expertise, and investment experience to help Samhwa achieve its next phase of growth.”
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.”
Since TPG’s investment in 2023, Samhwa has grown from a family-owned business into a leading cosmetic packaging company, focusing on premium products. With the support of its new owner, KKR, Samhwa plans to expand further and strengthen its position as a top global cosmetics packaging supplier.
KKR is making this purchase mainly through its Asian Fund IV and K-Series funds. Samhwa is another addition to KKR’s long history of investing in Korean companies, which includes MUSINSA, SK E&S, Ecorbit, HD Hyundai Marine Solution, KCF Technologies, LS Automotive, and Oriental Brewery.
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