ANCORS has been acquired by Well to Sea Investment

ANCORS, a leading Korean cosmetics original design manufacturer (ODM) manufacturer, has been acquired by Well to Sea Investment. The transaction will support ANCORS in strengthening its leadership in the domestic market and expanding its global presence.

Founded in 2009, ANCORS is one of the top seven original equipment manufacturer (OEM) and ODM cosmetics companies in Korea. Positioned at the forefront of the global K-Beauty wave, ANCORS has become a strategic manufacturing partner for leading beauty brands such as Byoma and Medicube. The company initially established its market presence in facial masks before expanding into basic skincare in 2017. It has secured the number one market share in Korea’s hydrogel-based facial mask segment, producing best-selling products like the Biodance Bio-Collagen Mask and Dr. Jart Rubber Mask. With production facilities in both Korea and China, ANCORS is well-equipped to meet growing domestic and international demand, underscoring its leadership in high-growth product categories. In 2024, the company recorded all-time high revenues of US$132 million and EBITDA of US$14 million, demonstrating strong growth momentum and profitability.

Well to Sea is a Seoul-based private equity firm specializing in mid-market buy-outs. The firm focuses on opportunities across the industrials, consumer and technology sectors, typically targeting companies with strong manufacturing capabilities and robust cash flow. Well to Sea has built a solid reputation for disciplined investing, partnering with management teams to drive operational improvements, growth and long-term value creation.

Oaklins’ team in Korea acted as the exclusive sell-side advisor to ANCORS. Multiple shareholders, including Praxis Capital Partners, Timefolio Asset Management and LLH Partners, successfully exited through this transaction, with the buyer acquiring a 67% stake and the original individual majority shareholder retaining 33%. Benefiting from strong global K-Beauty momentum, ANCORS is on a steep growth trajectory, with the majority shareholder completing a partial secondary sale in this transaction and planning a future exit at a higher valuation alongside the incoming financial investor. This transaction highlights the team’s strong track record in advising consumer and beauty sector companies on complex shareholder exits.