Samyang Holdings marks acquisition of Verdant Specialty Solutions to reinforce its specialty sector

Samyang Holdings has recently expanded its global footprint by acquiring Verdant Specialty Solutions, a U.S.-based specialty chemical manufacturer, from OpenGate Capital. This strategic move, involving an investment of approximately €230 million ($250 million), is in line with Samyang Group's ambition to bolster its specialty business and enhance its international presence. The group is targeting an annual revenue of €4.2 billion (6 trillion) by 2025.

Kim Yoon, the chairman of Samyang Holdings, emphasized the significance of the Verdant acquisition as the beginning of a series of mergers and acquisitions and joint ventures. This approach aims to leverage both internal capabilities and global partnerships. Todd Nelmark, the newly appointed CEO of Verdant Specialty Solutions, expressed enthusiasm about joining a dynamic company like Samyang Holdings, highlighting the opportunity to extend Verdant's reach and evolve under the strategic acquisition by Samyang Holdings.

Samyang Holdings, the holding company of Samyang Group, has diverse interests in sectors including chemicals, food, biopharmaceuticals, and packaging. The group's venture into the personal care specialty sector began with the acquisition of the Korean-listed company KCI in 2017. The acquisition of Verdant is expected to create synergies and enhance competitiveness, given the complementary product portfolios of Verdant and KCI.

Verdant Specialty Solutions, headquartered in Texas, is a key player in the chemical industry, known for supplying amphoteric and non-ionic surfactants used in personal care and industrial applications. With an annual revenue of about €190 million ($210 million), Verdant has established itself as a reliable supplier to major global brands such as Unilever and L'Oréal, as well as to various industrial chemical manufacturers. Verdant's presence spans the U.S., U.K., and Germany, marking its steady growth in developed markets.

According to the article by Procurement Resource, Samyang Holdings acquires U.S.-based Verdant Specialty Solutions for €230 million, enhancing its global specialty business. This strategic move, part of Samyang's expansion in chemicals and personal care, aims for €4.2 billion revenue by 2025. Verdant, a key chemical industry player, strengthens Samyang's portfolio and international presence.