Star Vision Aligns with CVC for Global Expansion
Deal News | Jan 22, 2025 | CVC Capital Partners
Star Vision, Korea's premier color contact lens brand operator, OLENS, has entered a strategic partnership with CVC Capital Partners. As part of the deal, PS Alliance and Pearl Investment agreed to sell their combined 49% stake in Star Vision to CVC, valuing the company at over KRW 600 billion. This collaboration aims to bolster Star Vision's expansion globally, where it already has a significant presence across several Asian markets. CVC is seen as an optimal partner for enhancing Star Vision’s global market position while reinforcing its dominance in Korea. The strategic alignment underscores Star Vision's sustainable business model focused on fortifying franchise relationships and spurring international growth.
Sectors
- Private Equity
- Beauty & Personal Care
- Retail
Geography
- South Korea – Star Vision is based in South Korea and is a leading operator in the Korean market.
- Asia – Star Vision has operations in multiple Asian countries including Japan, Hong Kong, and Taiwan.
- Global – CVC Capital Partners is a global private equity firm, and the partnership is aimed at Star Vision's global expansion.
Industry
- Private Equity – The article involves CVC Capital Partners, a major player in the private equity industry, acquiring a significant stake in Star Vision.
- Beauty & Personal Care – Star Vision operates within the colored contact lens market, a segment of the beauty and personal care industry.
- Retail – The retail industry is relevant as Star Vision operates over 400 outlets throughout Asia.
Financials
- KRW 600 billion – The approximate valuation of Star Vision as a result of the transaction.
- 49% – The stake in Star Vision being sold by PS Alliance and Pearl Investment to CVC.
Participants
| Name | Role | Type | Description |
|---|---|---|---|
| Star Vision | Target | Company | Operator of Korea's leading color contact lens brand, OLENS. |
| CVC Capital Partners | Bidding Company | Company | Global private equity firm acquiring a 49% stake in Star Vision. |
| PS Alliance | Selling Company | Company | One of the original investors selling its stake in Star Vision. |
| Pearl Investment | Selling Company | Company | One of the original investors selling its stake in Star Vision. |
| VIG Partners | Other | Company | Previous stakeholder from whom PS Alliance and Pearl Investment purchased their stake. |