KKR acquires Samhwa in USD 528M deal
The transaction marks a significant milestone for Samhwa as it continues its growth trajectory from a family business to a dominant player in the cosmetics packaging industry.
SOUTH KOREA – U.S.-based private equity firm KKR has completed its acquisition of South Korean cosmetics packaging company Samhwa Co. in a deal valued at 733 billion Korean won (USD 528 million).
The transaction, announced in early September 2025, sees KKR acquiring Samhwa from the asset manager TPG, which had held an investment stake since 2023.
Founded in 1977 initially as a mold development and manufacturing company, Samhwa has evolved into one of the leading global suppliers of high-end cosmetics packaging.
The firm offers comprehensive packaging solutions, including advanced air-tight cushion packaging and airless pump technologies.
It serves over 300 cosmetic brands worldwide, including renowned names such as L’Oréal, Estée Lauder, Chanel, and LVMH.
Samhwa maintains an in-house system covering product development, manufacturing, assembly, inspection, and delivery, complemented by a dedicated R&D center for bespoke packaging design.
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 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.”
This acquisition aligns with KKR’s broader investment strategy in South Korea and Asia, where the firm has backed companies such as fashion retailer Musinsa, energy provider SK E&S, and recycling company Ecorbit.
KKR intends to leverage its extensive global network to support Samhwa’s expansion and strengthen its collaborations with major luxury brands in the cosmetics sector.
With South Korea now ranking among the world’s top three cosmetics exporters, this deal positions Samhwa to capitalize on the rising global demand for sophisticated packaging aligned with the premium K-beauty ecosystem.
KKR’s backing is expected to drive further innovation and enable Samhwa to deepen its footprint in the international luxury cosmetics market, reinforcing its status as a top packaging partner for global beauty brands.
Meanwhile, TPG’s exit after its two-year stewardship underscores the growing investor interest in the Korean cosmetics supply chain, driven by the sector’s surging global popularity and export strength.
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