South Korea’s Beauty Industry Is the New M&A Hotspot: K-Beauty Brands Attract Bidders Before They're Ready to Sell

In 2025, South Korea's K-beauty sector isn’t just turning heads on shelves—it's shaking up the mergers and acquisitions (M&A) market. As global demand for Korean beauty and wellness products surges, a wave of unsolicited interest from private equity firms, strategic investors, and investment banks is driving unprecedented deal activity across the country.

What’s unique? Many Korean beauty and aesthetic device companies are getting acquisition offers before they even consider going to market.

🚨 Unsolicited Deals Define Korea’s 2025 Beauty Investment Boom

Experts are calling it a “reverse pitch” phenomenon. Instead of sellers initiating talks, investment advisers are approaching brand owners with “what-if” proposals—sometimes with buyers already lined up.

“It’s not just about beauty anymore—it’s K-beauty. And that brings a premium,” said a Seoul-based investment banker.

🔍 SkinFactory and Kundal: Courted Before a Sale

At the center of this preemptive buzz is The SkinFactory Co., the company behind the Kundal shampoo brand. Although VIG Partners, which acquired the company in 2020 for 170 billion won (~$122M), has no official sale plans, multiple firms have already made pitches about a potential exit.

The rising value of K-beauty brands and the global demand for natural and clean personal care products have made SkinFactory a prime acquisition target.

🧪 Aesthetic Device Companies Join the Race

It’s not just skincare—aesthetic medical device makers are also catching investors’ eyes.

Take Vaim, a company specializing in fillers and injectables. Though its majority owner, Premier Partners, hasn’t initiated any sale process since acquiring it for 70 billion won in 2021, Vaim is now receiving inbound interest amid a valuation surge in the sector.

Comparable firms like APR Co., ViOL, and Classys Inc. have all seen spikes in stock prices, driven by acquisition rumors and investor enthusiasm.

💼 Big Deals Already in Motion

Among the few deals formally underway is the potential sale of PerenneBell, the owner of popular K-beauty brand Some By Mi.

JKL Partners bought the brand in 2021 for 260 billion won
Now expected to sell for close to 600 billion won, according to market sources
Strong presence in Southeast Asian markets has fueled high bidder interest

🏷️ Recent K-Beauty M&A Highlights

Several notable deals have recently closed or are in late stages:

Aekyung Industrial Co.: Bidding for a 64% stake is underway, with valuations near 600 billion won. Top contenders include T2 PE, Lion Corp., and Anchor Equity Partners.
Seorin Company: Acquired by Calyx Capital in 2023 for 235 billion won, then sold in 2025 to a Goodai Global–Company K Partners consortium for over 600 billion won, tripling its value in just two years.

These numbers reflect not only the sector’s strength but also the urgency investors feel to secure deals before values climb even higher.

⚖️ Should Investors Hold or Sell?

With soaring demand and increasing multiples, PE fund managers are feeling the pressure. The big question now: "Cash out at the top—or hold for more growth?"

“There’s a growing belief that now is the perfect exit window,” said one Seoul-based investment banker. “Even the hint of availability sparks immediate buyer interest.”

In this hyper-competitive climate, some advisers are cold-calling brand owners with buyers already lined up, signaling just how ferocious the M&A scene has become.

🌍 Global Demand + Local Innovation = Investment Gold

The 2025 Seoul International Cosmetics & Beauty Industry Expo highlighted the international interest in K-beauty, with global buyers flocking to explore new Korean brands. These exhibitions continue to reinforce Korea’s reputation as the epicenter of beauty innovation, drawing even more investor eyes to the sector.

📝 Final Thoughts

The current K-beauty M&A environment in South Korea is a seller’s paradise, driven by strong brand equity, consumer loyalty, and global demand. As unsolicited offers pour in and valuations reach new highs, Korean beauty brands are no longer waiting to be discovered—they’re being chased.