KKR pay $625 million for Majority stake in Vini Cosmetics.
KKR & Co Inc, an American investment company revealed on Monday, 4,600 crores investment in vini cosmetics private limited for the sake of deodorant making for controlling stock.
It is the fastest growing cosmetics company. Vini founder group led by Darshan patel, chairperson and joint managing director and Dipam patel will sell the stocks in the company, it is manufacturing one of the famous deodorant brands like FOGG.
11 years old vini cosmetics come founders will continue to hold an outstanding stake in the company and will collaborate with the KKR in the next step of its growth.
The statement said that Darshan patel will continue to be chairperson and Dipam patel will be elected as vice Chairperson. Subject to customer closing conditions, the transaction is expected to close in 2021 July.
KKR partner Gaurav Trehan said it is the one of the fastest growing company in personal care cosmetics products. It consists of brands like FOGG, have brand loyalty in consumers, he added.
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