Samyang Holdings Corp
Parent company of Verdant Specialty Solutions
Houston, TX (December 18, 2023) –
Samyang Holdings announced today that it 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 amount was approximately USD 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 KRW 6 trillion (approximately USD 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 USD 210 million. “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 global 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.
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 and production bases in the U.S., U.K., and Germany. It 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. To learn more about KCI, please visit www.kciltd.com.
About Samyang Holdings
Samyang Holdings is the holding company of Samyang Group, a Korean heritage global conglomerate founded in 1924 comprising chemical, bio-pharmaceutical, food ingredient, and beverage packaging businesses. Samyang deploys over USD 5 billion in assets through its 18 subsidiaries and affiliates across the globe, expanding its presence worldwide via acquisitions and alliances. Samyang is committed to high ESG standards, founded on the core values of trust, innovation, talent, challenge, performance-focused, and customer-oriented. Samyang will become a centennial conglomerate on October 1, 2024. To learn more about Samyang Holdings and the Group, please visit www.samyang.com.