South Korea's cosmetics and beverage maker LG Household & Health Care has agreed to pay KRW54.2bn to buy an 86% stake in CNP Cosmetics, a Korean cosmeceuticals company.
The acquisition aims to help the company develop business into cosmeceuticals, which are expected to develop quickly as a new growth engine, LG H&H said. LG H&H’s larger cosmetic rival, Amore Pacific shares a similar point of view and is already engaged in stem cell research to develop new products as well as managing Iope, a cosmeceutical brand that targets customers in their mid-20s to mid-30s.
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