Carlyle Group Acquires Majority Stake In VLCC


Carlyle Group has acquired a majority stake in VLCC Health Care, a beauty and personal care company. The financial terms of the transaction, however, were not disclosed.

According to a statement, the equity for this transaction will come from funds managed and advised by entities affiliated with Carlyle Asia Partners Growth.

It was unclear whether Everstone, an existing investor in VLCC, also sold a stake in the company.

According to the statement, the investment will aid VLCC in brand building, product expansion, scaling its pan-India digital and e-commerce distribution channels, and expanding its local footprint of retail clinics.

“Carlyle shares our vision and plans for taking VLCC to its next level of growth. Carlyle’s global consumer sector experience, business partnership mindset, local market knowledge and its team make it the right partner to take our business to the next level,” said Vandana Luthra, founder of VLCC. 

KPMG India served as the VLCC and its founders’ sole transaction adviser.

The company, which was founded in 1989, is well-known for its facial kits and has a diverse product portfolio that includes skincare and sun care products.

Amit Jain, Managing Director, And Co-head, Carlyle India Advisors, said, “We look forward to working with VLCC’s founders as we seek to strengthen the management team and draw on Carlyle’s global consumer experience and network of senior advisers.”

VLCC operates 100 skill development institutes in India and has a network of 210 retail clinics in 118 cities and 11 countries in South Asia and the Middle East and Africa (MENA) regions, making it one of the largest providers of vocational training in the beauty and wellness sector in the country.

Carlyle also appointed consumer retail industry veterans Gurveen Singh and J. Suresh as Independent Directors to the VLCC board. While Singh recently retired as Reckitt Benckiser’s chief human resources officer, Suresh was previously the MD and CEO of Arvind Fashions. The private equity firm believed that the pair would provide strategic guidance for VLCC’s anticipated next phase of growth.

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