Unitas invests $164m in Korean outdoor brand

The Asian GP invested via Netherlands-based holding company Asia Mountaineering Holdings, subscribing to new primary shares issued by the company for a minority stake. Unitas will become NEPA's second largest shareholder post-transaction, after CEO Hyung Seob Kim.

"Outdoor apparel is one of the fastest growing sectors globally and Korean outdoor apparel companies have been leaders in both performance technology and design," commented Unitas Partner and COO Eugene Suh. "We are delighted to be able to partner with NEPA and HS Kim as we believe that NEPA is the most exciting brand in the Korean outdoor market and has a tremendous opportunity to become a significant global brand."

NEPA designs approximately 500 product lines of outdoor apparel and equipment products each year, which it distributes through a retail network of more than 300 directly operated and franchised stores in Korea. The business, which was recently spun out of former parent company PyungAhn L&C, generated around KRW300 billion ($255 million) of turnover last year.

"We were looking for an investor who could not only provide capital but also help us to build NEPA into a global brand," added HS Kim.

Previously, in Korea, Unitas has invested into Mando Corporation, Haitai Corporation and Buy The Way Corp. It exited Buy The Way to local retail conglomerate Lotte Group for around KRW275 billion ($238 million) in 2010.

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• Topics
• North Asia
• Consumer
• Expansion
• South Korea
• Consumer
• Unitas Capital
• Growth capital