US-based KKR has acquired Samhwa Co from TPG in a deal valued at 733 billion Korean won ($528 million).WHO: Founded in 1977 as a mold development and manufacturing company, Samhwa now provides packaging solutions to more than 300 cosmetic brands, including L'Oréal, Estée Lauder, Chanel, and LVMH. Samhwa is today one of the top cosmetic packaging producers in Asia, and among the top 10 globally. The company specializes in air-tight cushion packaging and airless pump technology, maintaining an R&D center that enables it to design bespoke products to meet customer needs. It is equipped with an in-house system that covers end-to-end services, including product development, manufacturing, assembly, inspection, and delivery.KKR is a leading global investment firm that offers alternative asset management as well as capital markets and insurance solutions. KKR aims to generate attractive investment returns by following a patient and disciplined investment approach, employing world-class people, and supporting growth in its portfolio companies and communities.TPG is a leading global alternative asset management firm, founded in San Francisco in 1992, with $261 billion of assets under management and investment and operational teams around the world. TPG invests across a broadly diversified set of strategies, including private equity, impact, credit, real estate, and market solutions.WHY: The transaction is the latest in a string of KKR investments in the Korean market, and offers exposure to the K-beauty ecosystem amid growing investor interest and global popularity.