Samyang Holdings Acquires Verdant Specialty Solutions
Samyang Holdings has acquired the management rights of the U.S.-based specialty chemical manufacturer Verdant Specialty Solutions from private equity firm OpenGate Capital. The total acquisition was approximately €230 million ($250 million).
This move aligns with Samyang Group’s push to strengthen its specialty business interests and accelerate its global operations as the group aims to achieve an annual revenue of €4.2 billion (₩6 trillion) by 2025.
Headquartered in Texas, Verdant supplies amphoteric and non-ionic surfactants for personal care and industrial applications with an annual revenue of around €190 million ($210 million).
Verdant has a diverse client base that includes global personal care brands like Unilever and L'Oréal and industrial chemical manufacturers, It has production bases in the U.S., U.K., and Germany and has positioned itself with steady growth potential in developed markets.
Samyang Holdings is the holding company of Samyang Group, which operates chemical, food, biopharmaceutical, and packaging businesses. Having entered the personal care specialty business by acquiring the Korean-listed company KCI in 2017, Samyang Group is anticipating synergy and strengthened competitiveness between Verdant and KCI based on their complementary product portfolios.
Kim Yoon, chairman of Samyang Holdings, commented, "The acquisition of Verdant is the start of our plan to pursue M&As and joint ventures with various suitable global partners in addition to our internal capabilities. We’re inheriting Verdant’s excellence - including people, technology, and products - as we actively support Samyang Group’s goal of developing as a global leader.”
“We are excited to become a part of a dynamic and forward-looking company with such a complimentary portfolio of technologies while extending Verdant’s reach. The acquisition of Verdant by Samyang Holdings, a strategic buyer, is a great evolution for Verdant and its employees,” stated Todd Nelmark the New CEO of Verdant Specialty Solutions.
