Taekwang Industrial / Beauty Life One (SPC of T2 Private Equity and Yuanta Investment) acquires 63.13% of Aekyung Industrial for KRW 444.2bn
- Deal value
- $306m
- Stake
- 63.13%
- Implied 100%
- $485m
- Revenue
- $451m
- Op. income
- $15m
- Multiples
- EQV/EBIT 33.3xPSR 1.1x
Deal value ÷ stake (structure unconfirmed)
2025 연결 · DART-verified
2025 연결 · DART-verified
On implied equity value
DART 20260318001405
- Target
- Aekyung Industrial · Cosmetics and household goods
- Buyer
- Taekwang Industrial / Beauty Life One (SPC of T2 Private Equity and Yuanta Investment) · 기타
- Seller
- AK Holdings / Aekyung Asset Management
- Structure
- —
- Announced
- Oct 20, 2025
- Closed
- Mar 26, 2026
- Stage
- Closed
Target
Aekyung Industrial, the founding company of Aekyung Group, makes cosmetics (Luna, Age 20's) and household goods (Kerasys, 2080, Trio). 2024 consolidated revenue was KRW 679.1bn (cosmetics KRW 261.5bn, household KRW 417.6bn) with operating profit of KRW 47.4bn; it is reported to be stocked in about 600 Walmart stores in the US.
Deal rationale
Reports say AK Holdings sold the 63.13% stake to secure liquidity after weak results at Jeju Air, Aekyung Chemical and AK Plaza drove its debt to about KRW 4tn (328.7% debt ratio at end-2024). Taekwang Industrial said it is expanding from petrochemicals and textiles into cosmetics as a core growth engine and plans global expansion in K-beauty and household goods, with T2 Private Equity and Yuanta Investment joining as investors.
| Revenue | $451m |
| Operating income | $15m |
| EBITDA | — |
| Net income | — |
2025 연결 · DART-verified · 20260318001405
Reported multiples
- EV/EBITDA 15.0x 2025년 상반기 LTM EBITDA 466억원 기준, 경영권 프리미엄 포함 기업가치 약 7,000억원 source ↗
Press coverage
- KED Global (2025-10-20): “for 470 billion won ($331 million)”
- 머니투데이방송(MTN) (2026-03-03): “이달 26일 애경산업 지분 취득을 완료”
- 토요경제 (2025-01-24): “2024년 연결 기준 연간 매출액은 전년 대비 1.5% 증가한 6791억원”
- IB토마토 (2025-10-01): “중장기 평균 EBITDA를 고려하면 멀티플은 10~12배 범위에 있다”
- 헤럴드경제 (2025-10-21): “AK홀딩스 1190만4812주(45.08%) 및 애경자산관리 476만7766주(18.05%) 등 총 1667만2578주(63.13%)”
- 아시아경제 (2025-09-10): “AK홀딩스 총부채는 지난해 말 기준 4조원 수준으로, 부채비율이 328.7%에 이른다”
This is a data entry summarising filings and press reports. Please check the original sources for the figures.