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 thebell 에 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, 재배포 및 AI학습 이용 금지 >
관련기사
best clicks
최신뉴스 in 전체기사
-
- 스튜디오산타클로스ENT, 주주권익 보호 '구슬땀'
- 이에이트, AI 시뮬레이션·디지털 트윈 기술 선보여
- MBK, '몸값 2조' 지오영 인수 SPA 체결 임박
- [2024 더벨 글로벌 투자 로드쇼-베트남]한인이 설립한 RCE, 세계 첫 ‘중장비 온라인 중고거래’
- 회계법인 해솔, 부동산 타당성 자문 업무협약
- [2024 더벨 글로벌 투자 로드쇼-베트남]베트남의 지오영 '바이메드'·전기오토바이 '셀렉스' 눈길
- 지아이에스, 코스닥 상장 위한 예비심사신청서 제출
- [꿈틀대는 토큰증권 시장]'업계 표준' 루센트블록, '두자릿수' 레코드 조준
- [Company & IB]조달 '막바지' 롯데그룹, 롯데케미칼에 쏠리는 눈
- '910억 CB 발행' 아스트, 경영 정상화 속도 낸다