An Acquisition of USD 300 million stakes by Carlyle Group, a private equity firm, in VLCC India.
As per the market reports, the last quarter of the year 2022 and the beginning of 2023 is the year of acquisitions and mergers for the Indian beauty and wellness industry. This wave started with Reliance Industries buying stakes in Naturals Salon and Spa in November 2022.
And following the suit is Indian beauty care and wellness solutions provider VLCC. Recently, the private equity firm, Carlyle Group, bought majority stakes of about USD 300 million in VLCC India. The founders of VLCC India, Vandana and Mukesh Luthra will continue to hold a significant stake in the company.
The deal was executed under the professional advice of Trilegal and KPMG to Carlyle Group and VLCC Indian and its founders respectively. The equity for the transaction will come from funds managed and advised by entities affiliated with Carlyle Asia Partners, Carlyle said in a statement, without specifying a deal value.
Founded in 1989, VLCC serves customers across 310 locations in 143 cities spanning 12 countries in South Asia, South East Asia, the Gulf Cooperation Council Region and East Africa.
As per the market reports, the Indian beauty and personal care industry is anticipated to reach USD 27.5 billion by 2025 as compared to USD 17.8 billion in 2020. And through this deal, VLCC Indian can expand its local footprints, e-commerce distribution channels, product expansions and much more.
With over USD 5.5 billion investment in over 40 equity transactions in India, Carlyle Group plans for taking VLCC to its next level of growth post this acquisition.