Morgan Stanley PE Sells ‘MSS Holdings’ to Asia Pulp and Paper

- Expecting Various Synergy Effects Through Acquisition of Global Pulp and Paper Companies
- Morgan Stanley PE Achieves Another Successful Sale to Strategic Investor Following Completion of Jeonju One Power/Jeonju Paper Deals in May This Year

Morgan Stanley PE (CEO Jeong Hoe-hoon) has successfully completed the process of selling MSS Holdings (hereinafter MSS), which owns Ssangyong C&B and Monalisa, to Asia Pulp and Paper Group (hereinafter APP).

MSS oversees lifestyle brands such as Cody and Monalisa, producing and selling a wide range of products including tissues, wet wipes, sanitary pads, and diapers. In addition, through a total of six affiliates including MSS Global and MSS Pulp, MSS has established a vertically integrated business model covering procurement/production to sales/distribution.

Jeong Hoe-hoon, CEO of Morgan Stanley PE, stated, “We all take great pride in the many achievements accomplished during our time with MSS, and we are pleased to support the company’s transformation and growth going forward.” He added, “Through this shareholder transition, MSS embarks on another journey of development together with a global pulp and paper group.”

Nishant Grover, CEO of APP’s Tissues International, said, “We are delighted to acquire MSS and, through MSS, provide APP’s world-class high-quality toilet paper and hygiene products at competitive prices, thereby expanding the choices available to Korean consumers.” He continued, “MSS is expected to benefit from APP’s operational expertise and global network, particularly by introducing MSS’s domestic brands to the global market and enhancing productivity and cost competitiveness, generating various synergies. Meanwhile, through the acquisition of MSS, APP has secured a position in the domestic toilet paper and hygiene products market with familiar MSS brands and a nationwide sales network.”

APP, established in 1972, is a global manufacturer and seller of pulp, paper, and packaging products, operating in more than 150 countries, with its headquarters located in Indonesia.

Morgan Stanley PE, with over 30 years of track record, is Morgan Stanley’s Asia private equity investment division. Recent domestic investment activities by Morgan Stanley PE include the acquisition of the K-beauty brand company Skin Idea in March 2024 and the sale of packaging and renewable energy companies Jeonju Paper and Jeonju One Power in May 2024, focusing on management buyout investments.

The advisory for this sale by Morgan Stanley PE was handled by Citi Global Markets Securities.