BPEA CLOSES THE LARGEST TAKE-PRIVATE CONSUMER TRANSACTION IN TAIWAN TO DATE WITH ITS INVESTMENT IN GINKO
30 May 2022 – Funds affiliated with Baring Private Equity Asia (“BPEA”), one of Asia’s largest private alternative investment firms, announced today the successful closing of its investment in Ginko International Co., Ltd (“Ginko” or “the Company”), China’s leading contact lenses producer. The transaction, which represents the largest Taiwan take-private transaction in the consumer sector to date and was unanimously approved by the Company’s Board, values Ginko at an enterprise value of $1 billion.
Headquartered in Taichung, Taiwan, Ginko was founded in 1985 and is a leading player in developing, manufacturing and distributing clear and coloured contact lenses, along with other related lens solutions. The Company offers a comprehensive multi-brand product portfolio across a range of price points. Ginko has top-class manufacturing and R&D capabilities, supported by state-of-the-art facilities in China and Taiwan, as well as a strong omnichannel distribution network with particular strength in e-commerce.
Operating in the contact lenses sector, Ginko sits at the intersection of two of BPEA’s core sectors of expertise, namely Healthcare and Consumer. BPEA has been following Ginko for many years and believes the Company is strategically positioned to capture the growing demand in its core markets, underpinned by long-term sector tailwinds, including the underpenetrated contact lens market in China, and the growing demand for coloured contact lenses for aesthetic purposes. BPEA will support Ginko’s Board and management team to develop and pursue a strategy that focuses on long-term value creation, growing the business and expanding its global reach. BPEA is pleased to confirm that, with the support of the Tsai family, Ginko has already secured a sustainability-linked financing package, linked to environmental and governance indicators, to support Ginko on the next phase of its growth journey.
Alex Lee, Managing Director of BPEA commented, “We are delighted to be welcomed by Ginko as a long-term partner to the Company, and look forward to bringing our international expertise to support the Company in the next stage of its journey. Ginko is an exceptional player in its sector and we believe it is very well-placed to take advantage of its strong position to continue its impressive growth trajectory to date.”
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