The Goodai Global-The Hahm Partners consortium has been selected as the preferred negotiator for the acquisition of the cosmetics brand operator Skin Food. Goodai Global, which has emerged as a major player in the cosmetics industry, is aggressively pursuing brand acquisitions.
According to investment banking (IB) sources on the 30th, the Goodai Global-The Hahm Partners consortium was selected as the preferred negotiator by offering the highest bid among multiple buyers in the main bid for the sale of Skin Food. The specific amount has not been disclosed, but it is estimated to be around 130 billion won.
Goodai Global is a company established in 2015 by CEO Cheon Joo-hyuk, who was engaged in the cosmetics distribution business. Starting with the acquisition of the brand Joseon Beauty in 2019, it has successively acquired K-beauty brands such as Tirtir, Laka, and Craver Corporation, aiming for annual sales of 1 trillion won this year.
Skin Food was acquired by Pine Tree Partners during its rehabilitation process in 2019. After undergoing restructuring, it graduated from the rehabilitation process within a year. By restructuring and reorganizing its distribution network, it successfully turned a profit. After recording a revenue of 17.5 billion won and an operating loss of 4.2 billion won in 2020, Skin Food has recovered to approximately 78 billion won in revenue and 10.4 billion won in operating profit as of the end of 2024.