Vini manufactures and sells personal care and beauty products in India. Credit: Nenad Stojkovic / Flickr.

Global investment firm KKR has agreed to acquire a controlling stake in Indian personal care and beauty retailer Vini Cosmetics.

KKR will invest $625m (Rs46bn) in the group, which is led by the company’s founders Darshan and Dipam Patel alongside US-based venture capital firm Sequoia Capital.

Founded in 2010, Vini produces, markets and distributes its 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.

The company’s existing investor, WestBridge Capital, will also acquire a further stake from the founder group to increase its shareholding in Vini.

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Following the transaction, the company’s co-founders will continue to hold stakes in Vini and collaborate with KKR to focus on growth.

Darshan Patel will remain as the chairman of Vini’s board, while Dipam Patel will serve as vice-chairman of the board.

Darshan Patel said: “Vini has experienced remarkable growth over the last 11 years, but we believe we are in the early stages of what our brands can deliver as consumer demand for high-quality personal care products continues to explode in India, South Asia and other fast-growing markets around the world.

“KKR has a proven track record of investing in the growth of some of India’s most innovative and disruptive homegrown champions, as well as in leading consumer and personal care companies worldwide.

“We look forward to using their global platform, resources and operational expertise to take Vini to the next level by expanding our e-commerce platform, growing new product categories, and broadening our distribution networks.”

The deal is expected to close in July subject to customary closing conditions.

Last September, KKR announced plans to invest Rs55.5bn ($755.09m) in Reliance Retail Ventures, a subsidiary of Reliance Industries.