LG H&H to acquire 75% of Vivawave (hince) for KRW 42.5bn
- Deal value
- $29m
- Stake
- 75%
- Implied 100%
- $39m
- Revenue
- $15m
- Op. income
- -$1m
- Multiples
- PSR 2.6x
Deal value ÷ stake (structure unconfirmed)
2022 별도 · DART-verified
2022 별도 · DART-verified
On implied equity value
DART 20230714000014
- Target
- Vivawave (hince) · Color cosmetics brand
- Buyer
- LG H&H · SI
- Seller
- Existing shareholders
- Structure
- —
- Announced
- Sep 25, 2023
- Closed
- —
- Stage
- Signed
Target
Operator of premium color cosmetics brand hince, launched in January 2019. Of its 2022 revenue of KRW 21.8bn, half came from overseas, mostly Japan.
Deal rationale
LG H&H said it would secure hince's differentiated color-brand building capability and strengthen its color cosmetics portfolio (company release). An official said the deal would help capture MZ-generation customers in Korea and abroad, including Japan, and expand into mid-to-high-priced categories such as skincare (Metro). Per IB Tomato, the company said the purchase aimed to strengthen its color portfolio and competitiveness in Japan.
| Revenue | $15m |
| Operating income | -$1m |
| EBITDA | — |
| Net income | — |
2022 별도 · DART-verified · 20230714000014
Press coverage
- LG 보도자료 (2023-09-26): “색조 화장품 브랜드 ‘hince(힌스)’ 보유한 ㈜비바웨이브 경영권 인수”
- 메트로경제 (2023-09-27): “비바웨이브의 지분 75%를 425억 원에 인수”
- IB토마토 (2023-10-17): “오는 20일 거래 종결 후 3년이 경과한 시점부터 잔여 지분 25%에 대해 매수·매도할 수 있도록 콜·풋옵션이 부여된다”
This is a data entry summarising filings and press reports. Please check the original sources for the figures.