Recently, HiteJinro Group, South Korea’s leading alcoholic beverage producer, is expanding its horizons beyond the spirits industry by acquiring BNB Korea, a ODM company in the cosmetics sector. The acquisition was made through Seoyoung e&t Co., a subsidiary of HiteJinro Group, which purchased a 100% stake in BNB Korea from SKS Private Equity. This acquisition marks a significant step for HiteJinro, as it seeks to capitalize on BNB Korea’s strong research and development capabilities and extensive client base to carve out a position in the highly competitive global cosmetics industry.
BNB Korea, the 15th-largest ODM company in the South Korean cosmetics sector, has shown remarkable growth in recent years. The company provides ODM services to more than 100 clients, including well-known beauty brands such as Dermafactory and Dr. Pepti. With its cutting-edge R&D capabilities and innovative product designs, BNB Korea has established itself as a key player in the K-beauty space.
By acquiring BNB Korea, HiteJinro is positioning itself to leverage the ODM company’s expertise in product development and manufacturing to make a strong entry into the beauty market. The acquisition not only provides HiteJinro with immediate access to a diverse range of clients and an established network within the cosmetics industry but also allows the company to tap into BNB Korea’s vast R&D resources to develop its own line of beauty products.
