이 기사는 2021년 09월 27일 07:53 thebell 에 표출된 기사입니다.

South Korean private equity (PE) firm JKL Partners will acquire management rights of Perenne Bell, a beauty brand that is creating a great sensation in the Southeast Asian market.

JKL Partners is currently in talks to acquire management rights of Perenne Bell in a private deal, industry sources said on Thursday. The deal may complete within this year if the negotiations go smoothly. The deal is expected to be quite sizeable considering the company’s financial performance and growth potential although the exact price tag hasn’t been finalized yet.

Founded in 2016, Perenne Bell operates derma cosmetics brand Some By Mi. The brand ranked second in sales in the cosmetics category at Shopee, the largest e-commerce platform in Southeast Asia.

Thanks to its popularity in the Southeast Asian market, Perenne Bell’s revenue doubled to 72.7 billion won ($62 million) in 2020 from 37.2 billion won in 2019. About 95% of its revenue comes from the overseas markets, including Vietnam, Indonesia, and Malaysia. Its operating profit also grew from 15.7 billion won to 37.2 billion won, with its operating margin standing at 51%.

Perenne Bell is expected to expand its product lines backed by its solid brand awareness. JKL Partners is likely to focus on entering new markets, including the U.S., Japan, and the Middle East.

JKL Partners is making active investments this year. It acquired South Korea's largest laundry service provider Cleantopia for about 180 billion won and invested 80 billion won in budget carrier T’way Air, 100 billion won in Jcontentree, and about 34 billion won in Shinheung SEC. The PE firm is expected to continue its investment spree using its fifth blind-pool fund, which closed at 750 billion won at the end of last year. (Reporting by Se-hun Jo)