KKR Acquires Stake In Vini For $625 Million
- ByStartupStory | June 22, 2021
The founders of Vini led by brothers Darshan and Dilam Patel will continue to hold their stake at Vini by collaborating with KKR at the same time as KKR acquires stake in Vini for $625 million.Founded in 2010, Vini Cosmetics is the owner of Fogg brand of Deodorant, and KKR agreed to buy a controlling stake there hoping that Indian consumers will continue to spend a handsome amount for cosmetics in spite of being stuck by Covid 19.
Vini Cosmetics already have West Bridge as their existing investment partner. However, West Bridge has claimed to acquire an additional stake from Vini’s founder group to raise it’s share holding. “Despite the pandemic, consumer goods companies and brands have seen the demand grow only. Most FMCG firms are doing well. The number of consumers is growing and investors continue to bet on this trend.” said Harminder Sahni, founder and MD, Wazir Advisors.
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