Samyang Holdings announced on Dec. 18 that it has acquired a controlling stake in Verdant Specialty Solutions, a global specialty chemical materials company. The acquisition amount is approximately 330 billion won.
Headquartered in the state of Texas in the U.S., Verdant focuses on the production of amphoteric surfactants for personal care and non-ionic surfactants for industrial applications such as oil and gas.
This M&A aligns with the management strategies pursued by Samyang Group, focusing on the cultivation of the “specialty business” and “global business expansion.” It aims at enhancing the business structure in the health and wellness sector and making inroads into the global market.
In 2017, Samyang Group took a major step into the personal care specialty business with the acquisition of KCI, a leading company in South Korea. With the recent acquisition of Verdant, the group has not only strengthened its related business but also created an opportunity for a comprehensive expansion.
Samyang Group anticipates significant synergy and enhanced competitiveness through the acquisition of Verdant. The strategic move is designed to operate in a complementary product portfolio without overlapping with KCI’s focus on amphoteric surfactants.