KKR Acquires Samhwa from TPG
Simpson Thacher advised KKR in connection with its acquisition of the Korean cosmetics packaging company Samhwa Co., Ltd. from TPG, an alternative asset management firm, at a valuation of KRW 733 billion (approximately USD $528 million). Founded in 1977 as a mold development and manufacturing company, Samhwa has grown to become a leading cosmetic packaging supplier, providing comprehensive packaging solutions for the high-end cosmetics industry, serving more than 300 cosmetic brands that include prominent independent Korean and global luxury brands. Samhwa is today one of the top cosmetic packaging producers in Asia, and among the top ten globally.
The Simpson Thacher team for the transaction included Jonathan Stradling, Ian Ho, Joongwon Park and Minha Lee (M&A); Étienne Renaudeau, Pauline Patat and Austin Lowe (Antitrust); and Meredith Jones and Mitchell Li (Tax).