This article was published on June 16, 2025, at 3:39 p.m. on the ChosunBiz MoneyMove site.
Private equity fund (PEF) manager Premier Partners has begun reviewing an investment in Goodai Global, considered a 'big player' in K-beauty mergers and acquisitions (M&A). It is understood that they are examining a plan to participate as a financial investor (FI) in Goodai Global's large-scale fundraising for additional K-beauty brand acquisitions.
According to the investment banking (IB) industry on the 16th, Premier Partners has recently established internal guidelines for participating in Goodai Global's investment attraction and has begun review. If Goodai Global issues convertible bonds, it is reported that Premier Partners is likely to acquire a portion of those bonds.
Goodai Global previously established a fundraising plan of up to 800 billion won in mid-last month and started contacting institutional investors, including domestic PEF managers. For the purpose of financing the acquisition of K-beauty brands, Goodai Global is pursuing the acquisition of Seorin Company, known for its "Dokdo Toner."
Goodai Global recently became the preferred negotiation partner for acquiring Skin Food, a first-generation K-beauty brand, in partnership with The Hahm Partners. Considering that the estimated acquisition prices for Seorin Company and Skin Food are 600 billion won and 150 billion won, respectively, they need to secure over 750 billion won.
It is analyzed that Premier Partners has highly evaluated Goodai Global's growth, achieved through acquisitions of cosmetic brands. Once a total distribution company for cosmetics, Goodai Global has risen to the top of K-beauty in Korea by acquiring five K-beauty operational companies since its launch of Chosun Beauty in 2019.
In particular, last year, Goodai Global acquired three beauty brands, including Tirtir (operated by Tirtir), Laka (Laka Cosmetic), and Skin 1004 (Craver Corporation), surpassing 1 trillion won in total revenue. The combined operating profit was 249.6 billion won, surpassing Amorepacific Corporation (220.4 billion won).
The growth of the acquired brands is also remarkable. In the first year of acquiring Chosun Beauty in 2019, the revenue was only 100 million won. However, by shifting its main market from China to the U.S. and Japan and strengthening social media service (SNS) marketing, Chosun Beauty (Goodai Global) alone achieved a revenue of 323.7 billion won last year.
Premier Partners is reportedly looking forward to a substantial return following Goodai Global's future initial public offering (IPO). With the stock price surges of APR and d'Alba Global increasing expectations for K-beauty in the IPO market, growth in the K-beauty industry is anticipated over the coming years.
Given the situation, it is reported that several domestic PEF managers, in addition to Premier Partners, are also reviewing participation in Goodai Global's investment attraction. Currently, Kiwoom Private Equity (Kiwoom PE) is said to have entered discussions for joint investment with Premier Partners and Goodai Global.
A source in the IB industry noted, "It seemed that market interest was waning as discussions arose about the high expectations for K-beauty brands, but interest has grown again following the soaring stock prices of APR and the anticipated success of the d'Alba Global listing," adding that "the possibility of overbooking is also high."