Cosmax, a leading Korean company in the ODM (Original Development Manufacturing) sector for cosmetics, has selected Italy as its strategic base for expansion in Europe and has announced the signing of a share purchase agreement for the acquisition of a 51% stake in Keminova, an Italian company that has been active for over 40 years in the formulation and production of skincare and medical products.
The transaction aims to strengthen Keminova’s role as an advanced research, development and service hub for European beauty brands, structurally integrating access to the Cosmax innovation ecosystem, which holds over 825 active registered patents globally.
Thanks to the partnership, Keminova will be able to develop and produce a complete range of K-Beauty products and services in Europe, integrating the most advanced Korean and cutting edge technologies with a specific interpretation for the European market in Italian style, while Cosmax will extend its production presence in Europe, which up to now has been concentrated in Korea, China and the United States, to meet K-Beauty needs globally.
Cosmax was supported in the transaction by Yulchon LLC with a team composed of Gun Kim, Chee-Kwan Kim and Hyewon Kim and by Studio Legale Giovannelli e Associati with a team composed of Alessandro Giovannelli, Matteo Bruni, Filippo Noci and Eugenia Arrigoni, who handled all corporate and contractual aspects, and by PwC with a dedicated financial and tax team for financial and tax aspects.
Keminova and its partners were assisted by LCA Studio Legale, with a team led by Daniele Bonvicini and composed of Matteo Montironi, Lara Bianchini, Ginevra Losi and Fabrizio Miceli in relation to the contractual and corporate aspects of the transaction, and by Studio Piccinelli of Brescia, with a team led by Guido Piccinelli and composed of Riccardo Arpino and Chiara Marchina, for the financial and tax aspects.
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