[ad_1]
- KKR will work closely with co-founders Darshan Patel and Dipam Patel and existing investor WestBridge Capital to prepare for the next phase of Vini growth
- Investment representative KKR continues to work to support local champions in India to become industry leaders
The world’s leading investment company KKR and India’s leading branded personal care and beauty products company Vini Cosmetics (“Vini” or “Company”) today announced the signing of a definitive agreement under which the company’s Founder Group-chaired by chairman and co-director Under the leadership of General Manager Darshan Patel and Co-Managing Director Dipam Patel, Sequoia Capital will sell a majority stake in the company to KKR for approximately US$625 million (INR 46 billion). The co-founders will continue to hold a large share of Vini and will cooperate with KKR in the company’s next phase of growth. In addition, existing investor Westbridge Capital will further acquire shares from Founder Group to increase its stake in Pooh.
This press release features multimedia. View the full version here: https://www.businesswire.com/news/home/20210620005269/en/
Founded in 2010, Vini manufactures, markets and distributes its branded deodorants, cosmetics and toiletries through its flagship brand FOGG and other well-known brands (such as OSSUM, GlamUp, etc.). Vini has established one of the largest personal care product distribution networks in India, with approximately 700,000 sales points and 3,000 distributors, supported by a sales team of 1,200 people. Vini’s products are also sold internationally through a network of general trade and modern trade channels covering 50 countries, occupying an important position in South Asia and the Middle East.
After the transaction is completed,…
The full story on Benzinga.com
[ad_2]
Source link
