Blackstone and KKR have made strategic investments in South Korea's K-beauty sector, acquiring stakes in leading companies Samhwa and Juno, amid a record surge in private equity transactions.

Target Information

Blackstone and KKR have recently entered South Korea's burgeoning cosmetics and personal care industry by acquiring significant stakes in leading companies. KKR plans to acquire Samhwa, a dominant player in cosmetics packaging, from TPG for approximately $528 million. Meanwhile, Blackstone has made a majority investment in Juno, a premium haircare chain, valuing the company at around 800 billion won (approximately $739 million). These moves are part of a broader trend, with K-beauty private equity deals reaching a record high.

Both acquisitions mark significant milestones in the K-beauty market, which is gaining traction internationally. With these two investments, the total value of M&A transactions in the K-beauty sector for 2025 has already reached $1.41 billion, complementing four previous deals. This figure represents 85% of the total volume from 2024, which was a record-setting year for K-beauty private equity activity, according to the Korean advisory firm MMP.

Industry Overview in South Korea

The South Korean cosmetics industry has experienced remarkable growth, emerging as the third-largest cosmetics exporter globally by 2024. Exports surged by 20% to reach $10.2 billion, reflecting the sector's robust pe