Bain Capital Private Equity and Goldman Sachs have agreed to acquire a majority stake in Korean cosmetics firm Carver Korea from existing shareholders, according to an announcement.
No financial details were disclosed.
The company plans to use the proceeds on further domestic growth and overseas expansion.
After the completion of the deal, which is Bain Capital Private Equity’s first investment in Korea, Carver’s founder Lee Sang-rok will continue to hold a minority stake in the company.
"Korea is a very attractive market with many innovative and globally competitive companies," says Jonathan Zhu, managing director at Bain Capital Private Equity. "Carver Korea has an attractive portfolio of brands…for growth both domestically and internationally."
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