The investment firm has agreed to acquire a controlling stake in Indian personal care and beauty retailer Vini Cosmetics for 46 billion rupees ($625 million).
Founded in 2010, and still led by the company’s founders, Darshan and Dipam Patel, Vini produces branded deodorants, cosmetics and toiletries under its flagship brand, Fogg, as well as several others.
The company’s distribution network includes 700,000 points of sale, 3,000 dealers and 1,200 sales personnel in India. It also has a significant presence in South Asia and the Middle East.
Following the transaction, the company’s co-founders will continue to hold stakes in Vini and collaborate with KKR to focus on growth.