KKR Acquires Controlling Stake in India’s Vini Cosmetics for $625M


Global investment firm, KKR & Co (KKR), has agreed to acquire a controlling stake in Indian personal care and beauty products company Vini Cosmetics for $625 million from its founder group.

Vini’s co-founders Darshan Patel and Dipam Patel will continue to hold a significant stake in the company and join KKR to embark on the next phase of Vini’s growth. Additionally, the current investor in Vini, WestBridge Capital, is also adding to its stake in the company.

KKR Partner Gaurav Trehan said, “Vini has established itself as one of the fastest-growing personal care companies in India, and the strong consumer brand loyalty for FOGG and its other personal care products is truly impressive.” (See KKR & Co stock chart on TipRanks)

Darshan Patel added, “We look forward to leveraging KKR’s global platform, resources, and operational expertise to take Vini to the next level by expanding our e-commerce platform, growing new product categories, and broadening our distribution networks.”

Vini distributes its personal-care products in India via a distribution network that includes 700,000 points of sale and 3,000 dealers. The company also has a presence in 50 counties.

Recently, Credit Suisse analyst Craig Siegenthaler reiterated a Buy rating on the stock and increased the price target to $66 (17% upside potential) from $60. The analyst highlighted KKR’s strong Q1 performance, which included better-than-estimated FRE.

Consensus on the Street is a Moderate Buy based on 8 Buys and 3 Holds. The average KKR analyst price target of $64 implies 13.5% upside potential. Shares have surged 80% over the past year.

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