Korea Investment Partners invests W15b in C&K Trading

[THE INVESTOR] Korea Investment Partners, a private equity company specializing in small- and mid-cap business, has invested 15 billion won (US$13.48 million) in a Busan-based shoe maker C&K Trading, according to industry sources on Aug. 5.

Woori Partnership New Technology Private Equity Fund, run by KIP, secured a 20 percent stake in C&K Trading by purchasing convertible redeemable preference shares and some of shares owned by the company’s CEO Jung Chang-kon. 

With the deal, KIP became the second-largest shareholder of the shoe manufacturer.

KIP plans to increase capital by pursuing an initial public offering of C&K Trading.

C&K Trading posted 109.6 billion won in consolidated sales and 8 billion in operating profit in 2015.

Established in 1987, the company forged partnership with big name fashion brands including Michael Kors, DC Shoes and Hunter Boots as an original equipment manufacturer.

By Park Han-na (hnpark@heraldcorp.com)