Hahn & Co., a private equity firm, has acquired SK Group‘s PET film business for $1.3 billion.

SK’s PET film business is the fourth largest polyester film firm worldwide and made $953 million in revenue in 2021.

“SK’s PET business is a global leader with attractive opportunities for growth and expansion in untapped markets. This acquisition continues Hahn & Co.’s conviction in Korea as an attractive while overlooked market for acquisitions,” said Scott Sang-Won Hahn, CEO of Hahn & Co.