Darshan Patel, Chairman & Joint-Managing Director, and Dipam Patel, Joint-Managing Director of Indian personal care and beauty products company Vini Cosmetics, and Sequoia Capital, are to 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. In addition, existing investor WestBridge Capital will acquire a further stake from the Founder Group to increase its shareholding in Vini.
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.
Read more/Source: Private Equity Wire
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