Goodai Global was named the preferred bidder of the South Korean heritage beauty brand, expanding its fast-growing portfolio.WHO: Founded in 2004, Skinfood is a heritage, mass‑premium skincare and makeup brand known for products made from natural ingredients such as fruits, vegetables, and botanical extracts.Goodai Global was established in 2015 by beauty industry veteran CEO Cheon Joo-hyuk. Its initial acquisition was of Joseon Beauty in 2019, followed by Tirtir, House of Hur, and Craver Corporation.WHY: Goodai Global has been pursuing an acquisition‑led expansion strategy similar to global beauty conglomerates. The roll‑up strategy generally preserves each brand’s concept while centralizing back‑end functions. Goodai is working towards an eventual IPO.DETAILS:Goodai Global, backed by Seoul-based The Hahm Partners, acquired Skinfood for an estimated 150 billion won ($108 million) from Pine Tree Partners.In 2024, Skinfood had approximately 78 billion won ($53) in revenue and 10.4 billion won ($7 million) in operating profit.Pine Tree Partners acquired Skinfood in May 2019 after the company filed for court receivership in October 2018.