Dongguk Pharmaceutical Secures 53.66% Interest in Acquisition of Livom Cosmetics
Oct 16, 2024
|
Through a signing ceremony held at the Cheongdam headquarters in Gangnam-gu, Seoul on the 15th, Dongguk Pharmaceutical acquired 96,600 shares of Ribom Cosmetics for 30.66 billion won, securing a 53.66 percent stake. With the acquisition of shares to secure new growth engines and diversify businesses, the expected acquisition date is October 22, 2024.
Founded in 2010, Reebom Cosmetics is a cosmetics R&D and export manufacturer that deals with more than 150 customers in recognition of its excellent quality, and has 34 overseas clients in 26 countries.
Dongkuk Pharmaceutical CEO Song Joon-ho said, "In the future, Dongkuk Pharmaceutical's technology to extract natural products and develop biopharmaceutical products, as well as R&D and manufacturing know-how of Reebom Cosmetics are expected to be combined to achieve synergy."We will take the lead in developing competitive products in the future and promoting the excellence of K-beauty not only in Korea but also around the world."
compact@sportschosun.com
