Jaan·Jaan Group Signs MOU to Acquire MP Hangang... "We Will Create a Global Cosmetic Platform"

[Asia Economy Reporter Yoo Hyun-seok] Jaan announced on the 9th that it has signed a memorandum of understanding (MOU) to acquire 21.83% (17,426,961 shares) of common stock in MP Hangang, a color cosmetics specialized distribution company, for 25 billion KRW, together with its affiliate Jaan Group.

Going forward, the brand lineup held by the online and mobile cosmetic platform ‘SelectOn Cosmetic’ operated by Jaan Group is expected to be further strengthened.

Jaan and Jaan Group plan to acquire MP Hangang after a two-week due diligence process in the form of a consortium. Upon signing the main contract, both companies will secure the status of the largest shareholder of MP Hangang.

MP Hangang, which signed the MOU this time, specializes in the supply and import of cosmetics as well as manufacturing and distributing OEM products under its own brand. Representative brands include ‘Kiss me’, ‘CANMAKE’, and ‘LilybyRed’.

Jaan Group owns cosmetic brands such as ‘Hydrogen Cosmetic’, ‘Gentle Camo’, and ‘Ereuno Cosmetic’. It operates its own cosmetic specialized platform ‘SelectOn Cosmetic’. Through this acquisition, famous cosmetic brands of MP Hangang are expected to be added.

MP Hangang is also expected to improve profitability by shifting its sales structure, which has been biased toward offline, to online and mobile distribution and overseas exports through this acquisition.

A Jaan Group official said, “MP Hangang is a company that owns many promising cosmetic brands,” adding, “We expect to create synergy through Jaan Group’s global network in the US, Japan, China, Southeast Asia, and other regions, as well as its online and mobile distribution platforms.” He continued, “Based on Jaan Group’s know-how in the fashion and cosmetic fields, we will grow ‘SelectOn Cosmetic’ into a global platform by selling globally renowned cosmetic brands, including those acquired from MP Hangang.”

In addition to the cosmetic specialized platform ‘SelectOn Cosmetic’, Jaan Group operates the fashion specialized platform ‘SelectOn’, and Jaan operates the health functional food specialized platform ‘SelectOn Health’.

This content was produced with the assistance of AI translation services.