Amorepacific Group Sells Stake in Subsidiary Pacific Glass

[Asia Economy Reporter Seungjin Lee] Amorepacific Group is selling 60% of the shares, including management rights, of its subsidiary 'Pacific Glass' to Versans, a leading company in the cosmetics packaging industry in France. Amorepacific Group will retain the remaining 40% of the shares.

Amorepacific Group announced on the 26th that it decided to sell the shares to focus its capabilities on core businesses centered on beauty affiliates and to establish an efficient management system. The secured funds will be used to expand investments in new growth business areas.

From Pacific Glass's perspective, it expects significant synergy in improving the quality of existing products through a technical partnership with Versans, which has excellent post-processing capabilities. However, a mandatory clause was set that Pacific Glass will prioritize supplying products to Amorepacific Group in the future, ensuring continuous supply of luxury packaging.

Meanwhile, Pacific Glass, established in 1973, is a manufacturer of cosmetic containers supplying over 2,000 types of glass containers to more than 110 domestic and international clients.

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