PharmaResearch has secured a foothold in the U.S. market by acquiring the American cosmetics manufacturer Cosmetic Group USA (CG USA). This move aims to strengthen its supply chain in response to the growing demand for Rejuran Cosmetic and to intensify its efforts in the North American market.
On July 1, PharmaResearch announced that it has signed an acquisition agreement with CG USA. The advisory for this acquisition was provided by Cosmo Group, and the financial details of the deal were not disclosed as per mutual agreement between the companies.
CG USA operates a production facility in California and possesses the capability to handle everything from product planning to manufacturing, filling, packaging, and quality control. The company is equipped with a manufacturing infrastructure that meets the standards of the U.S. Food and Drug Administration (FDA) and complies with current Good Manufacturing Practices (cGMP), allowing it to produce over-the-counter (OTC) products.
PharmaResearch decided to pursue this acquisition to better meet the increasing demand for Rejuran Cosmetic, particularly through platforms like Sephora and Amazon. Previously, the company supplied products manufactured in South Korea to the U.S. market, but with this acquisition, it aims to enhance supply chain efficiency and market responsiveness by establishing local production capabilities.
The company plans to bolster supply stability in the North American market and is set to implement a localization strategy to expand into other regions, including Canada and South America.
Son Ji-hoon, CEO of PharmaResearch, stated, "The acquisition of CG USA is a strategic decision for ensuring supply stability and expanding our business in the North American market. We will strengthen our global competitiveness based on local production capabilities and quality infrastructure."
Meanwhile, PharmaResearch continues to experience stable growth both domestically and internationally, leveraging the competitiveness of its Rejuran and Rejuran Cosmetic brands. The company aims to enhance its brand competitiveness in overseas markets through the expansion of regulatory approvals in key countries and the strengthening of local distribution networks.
* This article has been translated by AI.
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