MUMBAI--(BUSINESS WIRE)--KKR, a global investment firm, and Vini Cosmetics (“Vini” or “the Company”), a leading branded personal care and beauty products company in India, today announced the completion of KKR’s purchase of a majority stake in Vini. Following the conclusion of the transaction, Vini’s Co-Founders continue to hold a significant stake in the Company. Darshan Patel remains in his role as Chairman of the Board, while Dipam Patel has been appointed as Vice Chairman of the Board.
Vini manufactures, markets, and distributes branded deodorants, cosmetics, and toiletries. In addition to owning one of the largest personal care product distribution networks in India, the Company also sells its products internationally in 50 countries, with significant presence in South Asia and the Middle East. Along with Darshan and Dipam, KKR will work together closely with Vini’s management team to grow new product categories, expand its e-commerce platform, and further broaden its distribution network.
Darshan Patel, Chairman of Vini Cosmetics, said, “We are really excited to welcome KKR as a strategic shareholder in Vini, as we embark on the next stage of our growth journey. KKR’s industry experience, deep expertise, and global network are invaluable resources to Vini and its long-term success as we continue to expand our business and capture strong consumer demand for high-quality personal care products in India and other fast-growing markets around the world.”
Gaurav Trehan, CEO of KKR India, said, “As a strong leader in India’s fast-growing personal care products market, Vini is a great example of innovative, dynamic homegrown Indian companies that KKR supports to reach their full potential. We are truly excited to collaborate with Darshan, Dipam, and Vini’s talented team to strengthen the Company’s capabilities, grow its product portfolio, further accelerate its expansion as well as lay the foundation for its future success.”
KKR made its investment from its Asian Fund IV.
About Vini Cosmetics
Vini Cosmetics Pvt. Ltd, founded by Darshan Patel and Dipam Patel, has been a pioneer in the Indian personal care and beauty categories. It has built strong and fast-growing brands in a very short timeframe by identifying unmet needs of Indian consumers, and creating innovative and disruptive products and marketing approaches.
With a market leading brand in FOGG in body sprays and fast-growing brands in other categories, Vini has strong growth prospects in India as well as in its international markets across more than 55 countries.
KKR is a leading global investment firm that offers alternative asset management and capital markets and insurance solutions. KKR aims to generate attractive investment returns by following a patient and disciplined investment approach, employing world-class people, and supporting growth in its portfolio companies and communities. KKR sponsors investment funds that invest in private equity, credit and real assets and has strategic partners that manage hedge funds. KKR’s insurance subsidiaries offer retirement, life and reinsurance products under the management of The Global Atlantic Financial Group. References to KKR’s investments may include the activities of its sponsored funds and insurance subsidiaries. For additional information about KKR & Co. Inc. (NYSE: KKR), please visit KKR’s website at www.kkr.com and on Twitter @KKR_Co.