It is reported that a consortium led by Taekwang Industrial Co. has entered into a definitive agreement to acquire a 63% controlling stake in Aekyung Industrial Co. from AK Holdings Co. and Aekyung Asset Management Co. for 470 billion won ($331 million), marking one of South Korea’s largest consumer goods transactions this year.
According to people familiar with the matter, the agreement—approved by both companies’ boards on Monday—will be signed between AK Holdings and a consortium comprising Taekwang Industrial, T2 Private Equity, and Yuanta Investment Co. by Tuesday at the latest. The deal, initially targeted for completion in mid-October, was delayed due to extended internal reviews by AK Holdings. Closing is expected in January 2026.
Aekyung Industrial, known for household and personal care brands such as Luna cosmetics and Trio detergents, had been seeking to offload the 63% stake through a competitive auction managed by Samjong KPMG. The Taekwang-led consortium was named the preferred bidder last month. The final price values Aekyung Industrial shares at around 28,000 won each, representing an 86.9% premium over the stock’s Oct. 17 closing price of 14,980 won.
The acquisition marks a strategic pivot for Taekwang, which aims to accelerate its entry into the cosmetics and consumer goods sectors as it diversifies beyond its core chemicals and textile businesses. In July, the company announced plans to invest 1.5 trillion won by 2026, including 1 trillion won this year, to expand into cosmetics, real estate development, and energy, positioning these areas as its next growth engines.
