Samyang Holdings announced that it has acquired the management rights of the US-based specialty chemical manufacturer Verdant Specialty Solutions from private equity firm OpenGate Capital. The total acquisition amount was approximately US$ 250 million.

This move is in line 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 approx. US$4.6 billion by 2025.

Headquartered in Texas, Verdant has been incorporated as a subsidiary of Samyang Holdings. Verdant’s main business area is the supply of amphoteric surfactants for personal care products, as well as non-ionic surfactants for industrial applications, while its annual revenue reaches around US$ 210 million.

With a diverse client base of over 1,000 customers worldwide, including global personal care brands like Unilever and L'Oréal along with industrial chemical manufacturers, Verdant has around 300 employees. 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.

"The core of Samyang Group’s new growth strategy is 'specialty' and 'global,' while seeking to change and enrich lives through specialty materials and solutions," said Kim Yoon, chairman of Samyang Holdings. "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.