Praxis Capital acquires management rights of health supplement firm SeungMyeong PE firm purchases shares worth $49 mil

Translated by Kim So-in 공개 2021-09-17 12:57:40

이 기사는 2021년 09월 17일 08:08 더벨 유료페이지에 표출된 기사입니다.

Seoul-based private equity (PE) firm Praxis Capital has acquired South Korean health supplement company SeungMyeong to capitalize on the fast-growing health supplement market and the company’s competitiveness in the global market.

Praxis Capital signed a contract with the company to purchase shares worth 58 billion won ($49 million) to secure management rights in July, industry sources said on Wednesday. The acquisition was fully financed through the PE firm’s blind-pool fund.

Established in 2008, SeungMyeong operates health supplement brands like Naturalize and The REAL, whose main product categories include omega 3, propolis, and gamma-linolenic acid.

The company has built overseas networks in North America, Oceania, and Europe over the past 10 years to focus on the product development. It also owns more than 400 stock keeping units and is developing private brands for more than 30 retailers.

Praxis Capital has primarily reviewed the company’s competitiveness in the health supplement market to make the latest investment. The health supplement market was estimated to be worth around 6 trillion won in 2020 and is expected to grow fast in the coming years as consumption trends change. SeungMyeong posted revenue of around 30 billion won in 2020, with an average annual revenue growth of 50% over the last three years.

Praxis Capital plans to further enhance the company’s products beyond the health supplement category through the latest buyout investment as the company’s mainstay products have already secured top positions on the country's major ecommerce platforms such as Naver and Coupang. (Reporting by Ha-na Suh)
< 저작권자 ⓒ 자본시장 미디어 'thebell', 무단 전재 및 재배포 금지 >

더벨 서비스 문의


유료 서비스 안내
주)더벨 주소서울특별시 중구 무교로 6 (을지로 1가) 금세기빌딩 5층대표/발행인성화용 편집인이진우 등록번호서울아00483
등록년월일2007.12.27 / 제호 : 더벨(thebell) 발행년월일2007.12.30청소년보호관리책임자김용관
문의TEL : 02-724-4100 / FAX : 02-724-4109서비스 문의 및 PC 초기화TEL : 02-724-4102기술 및 장애문의TEL : 02-724-4159

더벨의 모든 기사(콘텐트)는 저작권법의 보호를 받으며, 무단 전재 및 복사와 배포 등을 금지합니다.

copyright ⓒ thebell all rights reserved.