Kolmar Korea has announced plans to acquire a 55% stake in Yonwoo—a Korean provider of packaging solutions for beauty, skincare and personal care—for 2,86383.8 million won ($221.6 million).
 
Once the contract is completed, Kolmar Korea will be Yeonwoo’s largest shareholder. Kolmar Korea, a cosmetics manufacturer development and production company (ODM), wants to acquire Yonwoo to create synergy in its cosmetics business.
 
According to Infostock Daily, the acquisition price per share is 42,000 won ($31.50).