Ascent Equity Partners Acquires C&C International for KRW 285 Billion
Creatrip Team
a year ago
Ascent Equity Partners, a private equity firm, has acquired C&C International, the fourth largest cosmetics ODM (Original Development Manufacturing) company in South Korea, for KRW 285 billion (approximately USD 216 million). Ascent will buy 3.6 million new shares priced at KRW 40,100 each, raising KRW 145 billion in new capital. Of this, KRW 45 billion will be used to expand a factory in Cheongju (a city in South Korea). Additionally, Ascent will purchase a 20% stake previously owned by the existing major shareholder for KRW 140 billion, making Ascent the majority shareholder with a 41% stake, while the former owner’s family will hold 34%.
