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Kolmar Korea acquires controlling stake in US ODM firm PTP

[THE INVESTOR] Kolmar Korea reported on Oct. 13 that its subsidiary Seokoh has participated in the capital increase of US cosmetics original development manufacturer Process Technologies and Packaging, and has acquired 51 percent stake (8,079,336 shares) for 17.19 billion won (US$15.25 million).

Seokoh is a special purpose corporation in the US established to take over a local company. 

In September, the South Korea-based cosmetics OEM/ODM giant has partnered with Wormser, the largest cosmetics sourcing company in the US, which will own the remaining 49 percent stake in PTP.

By Hwang You-mee (