WASHINGTON (dpa-AFX) - Carlyle Group Inc. (CG), an investment firm, on Monday announced that it has agreed to acquire up to 100% of South Korea's Chung Ho Group, a home and healthcare appliance rental firm, from members of the founding Joung family. Financial terms of the deal were not disclosed.
The transaction is expected to close in the third quarter of 2026, subject to regulatory approvals and closing conditions.
Founded in 1993, Chung Ho manufactures and rents water purifiers, air purifiers, bidets and mattresses, and provides installation and after-sales services through a nationwide network.
Carlyle said it would support further investment in Chung Ho's brand and product innovation to capitalize on demand for health and wellness appliances and subscription-based services.
The succession-driven deal will be funded by Carlyle Asia Partners, the U.S. investment firm's Asia buyout platform, Carlyle said in a statement.
Carlyle shares closed down 0.11 percent at $43.48 on the Nasdaq on Friday, before falling a further 1.68 percent to $42.75 in after-hours trading.
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