SUBSCRIBERS

Blackstone, KKR drive surge in private-equity deals in Korean beauty

Recent investments by Blackstone and KKR could help push deals made this year in sector past those in 2024

Summarise

Add BT as a preferred source

Wong Chia Peck

Published Mon, Sep 15, 2025 · 07:00 AM

The increase in K-beauty dealmaking is riding on the “Hallyu” or Korean wave. Interest in Korean pop culture is spilling over to fuel demand for beauty products such as skincare and cosmetics. PHOTO: REUTERS

[SINGAPORE] From a premium hair salon chain to the popular skincare and make-up brand Skinfood, private-equity (PE) investors are scooping up assets in the hot South Korean cosmetic products and personal care sector.

The latest investments by PE giants Blackstone and KKR – their first acquisitions in the K-beauty sector – could push 2025 moves past the total value of deals logged last year, according to data compiled by The Business Times.

KKR announced on Sep 4 that it would fully acquire South Korean cosmetics packaging company Samhwa Co from TPG for around US$528 million. This came two days after Blackstone said that it was making a “significant investment” in South Korean premium haircare business Juno. While the world’s largest alternative asset manager did not disclose the terms, Blackstone is reportedly buying a majority stake in Juno that would value the company at 800 billion won (S$739 million).

Decoding Asia newsletter: your guide to navigating Asia in a new global order. Sign up here to get Decoding Asia newsletter. Delivered to your inbox. Free.

Private equity Asia-Pacific

Reuse this content Feedback

TRENDING NOW

Longest-serving chief minister Taib Mahmud’s legacy looms large over Sarawak as a family feud over his estate threatens to expose skeleton’s in the eastern state’s political closet.

On the board but frozen out: The Taib family feud tearing Sarawak construction giant apart

Senior Minister of State for Digital Development and Information Tan Kiat How said the government is working with partners who have access to Anthropic's Mythos to understand its capabilities.

MAS convenes bank CEOs over AI cyberthreats; boards told to own risks, not leave to IT teams

Thailand’s target is to export seven million tonnes of rice globally in 2026, but the Middle East war has turned the world topsy-turvy with supply disruptions, high oil prices and economic uncertainty.

Thai and Vietnamese farmers may stop planting rice because of the Iran war. Here’s why

The message was sent with addresses under the carbon copy feature instead of blind carbon copy, meaning that all recipients could see all the other e-mail addresses in the chain.

LTA circular to potential EV charger owners reveals hundreds of e-mail addresses under carbon copy feature