Ascend Equity Partners has acquired a 40% stake in C&C International, a leading color cosmetics company in South Korea, for 285 billion KRW.

Target Company Overview

Ascend Equity Partners (AEP) has announced its acquisition of C&C International, a leader in color cosmetics listed on the KOSDAQ, for a total consideration of 285 billion KRW. As per agreements made on November 23, 2023, AEP will acquire a 40% stake in C&C International, which includes purchasing 20% of shares from the current major shareholder, Chairman Bae Eun-cheol, for 140 billion KRW and acquiring newly issued shares worth 145 billion KRW.

AEP, acting as a financial investor, is considering establishing a fund in collaboration with Shinsegae, which would be utilized to facilitate the acquisition through a newly formed special purpose corporation (SPC). Notably, AEP had already invested 30 billion KRW in C&C International earlier in 2023. Given AEP's established network, it is expected to significantly assist C&C International’s client companies in their expansion into international markets.

Industry Overview

The color cosmetics industry in South Korea has experienced robust growth in recent years, driven by a rising demand for innovative and high-quality beauty products. South Korea's beau