Sign up for the Powder & Bulk Solids Weekly newsletter.
December 18, 2023
2 Min Read
Korea-based Samyang Holdings and OpenGate Capitol held a Verdant MIPA signing ceremony.Image courtesy of Samyang Holdings
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 KRW 6 trillion (approximately $4.6 billion) by 2025.
"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," added Yoon.
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. The company's annual revenue is around $210 million.
With a client base of over 1,000 customers worldwide, including brands like Unilever and L'Oréal along with industrial chemical manufacturers, Verdant has around 300 employees. It has production bases in the US, UK, and Germany, and has positioned itself with steady growth potential in developed markets.
Samyang Holdings, the holding company of Samyang Group, operates chemical, food, biopharmaceutical, and packaging businesses. The company 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.
“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 2 Verdant by Samyang Holdings, a strategic buyer, is a great evolution for Verdant and its employees.” said Todd Nelmark, Verdant's new CEO.
About the Author(s)
You May Also Like
Martin Engineering Opens New Italian HQFeb 23, 2024|2 Min Read
FDA Expands Cotija Cheese RecallFeb 23, 2024|2 Min Read
Training & Development of Staff Post-Pandemic is More Important Than EverFeb 23, 2024|3 Min Read
Röhm Builds New Plant for PLEXIGLAS Molding CompoundsFeb 23, 2024|2 Min Read