Japan’s Marubeni Launches Tender Offer for Up to 28% of iFamily SC, Sending Shares to Daily Limit

rom&nd color cosmetics products (iFamily SC) Japanese trading house Marubeni is seeking to acquire a stake of up to 28% in iFamily SC, the South Korean company behind cosmetics brand rom&nd, as part of a strategic partnership aimed at expanding the brand’s international presence. Welliant, a wholly owned subsidiary of Marubeni, announced a tender offer for iFamily SC common shares running from Oct. 23 through Nov. 11. The offer price is set at 12,000 won, or approximately $9.07, per share, representing a 42.5% premium over the previous closing price of 8,420 won. Welliant aims to acquire between 20% and 28% of the company’s total issued shares, with the transaction valued at up to 56 billion won. If shareholders tender fewer than the minimum required 20%, the offer will not proceed and no shares will be purchased. If tendered shares exceed the 28% ceiling, purchases will be allocated on a pro rata basis. The announcement sent iFamily SC shares surging to their daily upper limit shortly after the market opened on Oct. 23. In morning trading on the KOSDAQ, the stock climbed 29.93% to 10,940 won. NH Investment & Securities is managing the tender offer, with settlement scheduled for Nov. 13. The transaction is structured as a strategic alliance focused on overseas expansion rather than a takeover. Co-CEOs Kim Tae-wook, a former singer turned entrepreneur, and Kim Sung-hyun will retain their existing stakes and have entered into a joint ownership arrangement with Marubeni. If the tender offer reaches its maximum target, Marubeni’s 28% stake and the approximately 42% held by the co-CEOs would give the strategic partners a combined holding of around 70%. Marubeni also plans to participate in iFamily SC’s management through board representation. Depending on its final ownership stake, the Japanese company will have the right to nominate at least one director, who will oversee international brand expansion projects. The partners also plan to establish an investment committee to advise the CEO, along with business development and management planning departments reporting directly to the CEO. The new organizational structure is intended to strengthen global partnerships and identify investment opportunities. Under the agreement, Kim Tae-wook and Kim Sung-hyun will remain in their management positions for at least three years, retaining independent management authority. Marubeni said it has no separate plans for a merger, corporate split or transfer of business operations following the tender offer. The partnership is expected to help rom&nd leverage Marubeni’s global business network to expand beyond its existing markets in Japan and China, strengthening its presence in the United States, Europe and other international markets.