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

[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).