THE WHAT? LG Household & Health Care has agreed to acquire the license for Physiogel in Asia and North America, according to a report published by The Korea Herald.
THE DETAILS The deal is valued at KRW192.3 billion, and is expected to complete in the second half of the year.
The purchase aligns with LG Household & Health Care’s wider mission to strengthen its personal care arm. In time, the GSK-owned brand’s production will move from its current Thai base to LG’s plants in South Korea, China, Japan and the US.
THE WHY? A company spokesperson told The Korea Herald that the brand was yet to make in roads into major markets, including Japan, China and the US – LG Household & Health Care is hoping to unlock that potential.