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

Japanese trading firm Marubeni is making a bid to acquire up to 28% of iFamily SC, the South Korean firm behind the rom&nd cosmetics brand, as part of a strategic partnership to boost the brand's global reach. The tender offer from Welliant, Marubeni's wholly-owned subsidiary, opened on October 23 and concludes on November 11, with an offer price of 12,000 won, or about $9.07, per share—significantly higher than the 8,420 won closing price.

The transaction is valued at up to 56 billion won, but will only proceed if shareholders tender at least 20% of shares; any excess will be distributed proportionally. Initial market reaction saw iFamily SC shares skyrocket to their daily maximum shortly after the Oct. 23 opening, rising 29.93% to 10,940 won in morning trading. The deal, managed by NH Investment & Securities and set to settle on November 13, aims to expand iFamily SC's presence in the United States, Europe, and other international markets, leveraging Marubeni's global business network.

Co-CEOs Kim Tae-wook and Kim Sung-hyun will maintain their existing shares and jointly own around 70% if the tender reaches its maximum target. Marubeni will also gain board representation, potentially securing at least one director to oversee international expansion. The partners plan to establish an investment committee and dedicated business development and management planning departments to support global partnerships and identify new opportunities, with Kim Tae-wook and Kim Sung-hyun retaining their management roles for at least three more years.