KKR, the global investment firm, has completed the Rs 4,600 crore deal to buy a majority stake in deodorant maker Vini Cosmetics.
As part of the deal, Vini Cosmetics' Co-Founders continue to hold a significant stake in the company. Darshan Patel will continue to be Chairman while Dipam Patel has been appointed as the Vice-Chairman of the brand.
Darshan Patel, Chairman, 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.”
In June 2021, KKR had announced that it is paying $625 million or Rs 4,600 crore for a majority stake in the 11-year-old Vini, which manufactures and markets brands like Fogg.
Gaurav Trehan, Chief Executive of KKR in India, stated, “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.”