International investment firm KKR has invested $625 million for a controlling stake in personal care and beauty company Vini Cosmetics. Vini is known for making the famous deodorant named Fogg, and other worldwide known brands such as OSSUM, GlamUp, and more. Existing investor WestBridge Capital will obtain a further stake in the group to expand its shareholding in Vini.
Sequoia Capital will sell a majority stake in the company to KKR for approximately $625 million. “The co-founders will continue to hold a significant stake in Vini and collaborate with KKR in the next phase of the company’s growth,” stated Vini Cosmetics.
“Upon completion of the transaction, the co-founders and WestBridge Capital will continue to hold a significant position in Vini. Darshan Patel will continue as the Chairman of Vini’s board and Dipam Patel will be appointed as Vice Chairman of the board,” the company said in a statement.
