Dongguk Pharmaceutical acquires cosmetics ODM company to diversify business (Korea)

Dongguk Pharmaceutical, a major pharmaceutical company, announced that it has signed a stock acquisition agreement with cosmetics manufacturer Ribom Cosmetics. As a result, Dongguk Pharmaceutical will acquire 96,600,000 shares of Ribom Cosmetics for 30.7 billion won.
The acquisition will be made for a total of 2,000 shares (approximately 3,354,280,000 yen) and a 55.66% stake. The acquisition is being promoted with the aim of diversifying the business, and the planned date for the acquisition of shares is October 22nd.
Founded in 2010, Revom Cosmetics has approximately 150 client companies. The company specializes in the research, development and export of cosmetics, and does business with 34 companies in 26 countries. In 2016, it was awarded the FDA's FDA certification.
Current Good Manufacturing Practices (cGMP), ISO22716, a guideline for good manufacturing practices (GMP) for the cosmetics industry, and over-the-counter (OTC) drug certification by the FDA in 2020.
Dongguk Pharmaceutical is a cosmetics ODM (original design and manufacturing) company that has obtained the certification. Son Jun Ho, CEO of Dongguk Pharmaceutical, said, "We have the technical capabilities for natural extracts, the development capabilities for herbal medicine formulations, and
"We believe that the combination of our R&D and manufacturing know-how with ReBom Cosmetics will create a synergistic effect," he said. Dongguk Pharmaceutical was founded in 1968. In 2015, it launched the derma cosmetics brand "Cente
The company launched "Centellian 24" and entered the cosmetics business. The main ingredient of "Centellian 24" is Centella asiatica quantitative extract (TECA), which is used in cosmetics.