Carlyle Group buys major stake in VLCC
Carlyle Group, a private equity firm, announced on Tuesday that it has purchased the majority of the stock in VLCC, an Indian distributor of wellness and beauty care products.
Without providing any financial details, Carlyle Asia Partners stated in a statement that the stock for the deal will come from funds managed and counselled by firms associated with it.
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Vandana and Mukesh Luthra, who founded VLCC, will continue to own a sizable portion of the business, Carlyle said without providing any other information.
Carlyle Group
The 1989-founded skin care and cosmetics company has 210 retail clinics spread over 118 locations in 11 countries in South Asia, the Middle East, and Africa.
As of September 30, 2022, the company said that Carlyle has invested more than $5.5 billion in more than 40 transactions in India.
VLCC and its founders received advice from KPMG India.
The post Carlyle Group buys majority stake in beauty product brand VLCC appeared first on IndiaFrontline.
