KKR pays Rs 4,600 cr for majority stake in FOGG brand owner Vini Cosmetics

Personal care company's founding members will continue to hold a stake in the business.

Global investment giant KKR has bought a majority stake in personal care company Vini Cosmetics, the maker of Fogg deodorants, from its  founders and venture capital firm Sequoia Capital for $625 million (about Rs 4,600 crore). This is the largest private equity (PE) control deal in the space in the country.

The founder group, led by Chairman and Joint Managing Director Darshan Patel and Joint MD Dipam Patel, will continue to hold a significant stake in Vini and work with KKR in the next phase of the company’s growth, KKR said in a statement on Monday. In addition, existing investor WestBridge