CVC Asia invests in leading global distributor of K-beauty products Silicon2

CVC Capital Partners today announced that CVC Asia VI has agreed to acquire an approximately 9% stake in Silicon2, the leading global distributor of K-beauty products, through a primary issuance of Redeemable Convertible Shares.
 
Established in 2002, Silicon2 offers more than 600 brands to over 3,300 customers across 177 countries, primarily through its online wholesale platform, StyleKoreanKbeautyWholesale.com. Its customers include leading retailers such as Boots, Sephora, Ulta, Rossmann, Superdrug and iHerb, as well as small- and medium-sized retailers and sub-distributors.
 
The transaction values Silicon2 at an enterprise value of approximately US$2.1 billion and will support the company’s continued global expansion, supply chain optimisation, and professionalisation.
 
EC Cho, Senior Managing Director and Co-Head of CVC Korea, said: “Silicon2 is a high-quality, founder-led business with a leading position in the rapidly growing global K-beauty market. We see significant opportunity to support its continued expansion, leveraging our experience in internationalising businesses and our global network to help Silicon2 reach its full potential.”