V3 Group Limited Welcomes Investment from KKR
December 04 2018 - 12:00AM
Business Wire
S$500M Landmark Investment by KKR in Leading
Luxury Group in Asia
V3 Group Limited (“V3” or the “Company”), a leading specialty
retailer of luxury lifestyle and wellness products in Asia, today
announced an investment by global investment firm KKR, which will
invest up to S$500 million for a significant stake in V3, at an
enterprise value of approximately S$1.7 billion.
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Headquartered in Singapore, V3 owns and develops premium
products and services through its leading luxury and wellness
brands – OSIM, TWG Tea and ONI (GNC, LAC, Xndo) – promoting and
inspiring a healthy lifestyle to a broad and affluent consumer
demographic across Asia. The Company also owns Futuristic Store
Fixtures, which supports some of the world’s leading retail brands.
The Company has a history of impressive brand creation and
development, a deep understanding of the consumer market and
retailing, and a presence in over 100 cities in 26 countries around
the world.
Commenting on the investment by KKR, Mr. Ron Sim, Founder,
Executive Chairman and Chief Executive Officer of V3, said, "I am
extremely pleased to welcome KKR as a significant shareholder in
V3. I look forward to an exciting partnership together as well as
drawing on KKR’s longstanding expertise and full support to
accelerate the growth of the business. I am confident this
investment will position the Company for our next phase of growth,
starting with the immediate expansion of TWG Tea in Japan and the
USA and of OSIM in China."
KKR’s investment marks the beginning of a robust relationship
with V3, and affirms the strong heritage and prospects of one of
Asia’s most distinguished luxury groups. KKR is making this
investment from its Asian Fund III.
Mr. Jaka Prasetya, Member of KKR, said, "V3 is a landmark
investment for KKR in a leading luxury group in Asia, underscoring
our strong belief in the continued growth of the region’s consumer
sector. At KKR, we aim to provide support and capital to successful
home-grown, regional companies like V3 in order to capture
opportunities across Asia and beyond. We look forward to working
alongside the whole V3 team to build on the Company’s success.”
The transaction was advised by Evercore, the exclusive financial
adviser to V3.
About V3 Group Limited
Headquartered in Singapore, V3 Group Limited (“V3”) is a leading
Asian luxury group that creates, develops, and owns brands in the
lifestyle and wellness markets. V3 has three major business
streams, Lifestyle, Wellness and Specialist Fixtures, and a
presence in over 100 cities in 26 countries around the world.
Beginning with the global luxury product leader OSIM in 1980, V3
Group founder Ron Sim has built up a portfolio of leading luxury
brands over the years, including TWG Tea, the finest luxury tea
brand in the world, and ONI Global, Asia's largest retailer of
nutritional supplements. In ONI Global’s core markets
Singapore, Malaysia and Taiwan, V3 Group holds the exclusive
franchise rights to the global wellness brand GNC. Through ONI
Global, V3 also owns LAC, which offers customers wellness products
that combine eastern herbal ingredients and modern western
processing; and Xndo, a provider of formulated food-based health
products. The Company also owns Futuristic Store Fixtures, which
supports some of the world’s leading retail brands.
For more information about V3 Group, please visit
www.v3group.com.
About KKR
KKR is a leading global investment firm that manages multiple
alternative asset classes, including private equity, energy,
infrastructure, real estate and credit, with strategic partners
that manage hedge funds. KKR aims to generate attractive investment
returns for its fund investors by following a patient and
disciplined investment approach, employing world-class people, and
driving growth and value creation with KKR portfolio companies. KKR
invests its own capital alongside the capital it manages for fund
investors and provides financing solutions and investment
opportunities through its capital markets business. References to
KKR's investments may include the activities of its sponsored
funds. For additional information about KKR & Co. Inc.
(NYSE:KKR), please visit KKR's website at www.kkr.com and on
Twitter @KKR_Co.
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version on businesswire.com: https://www.businesswire.com/news/home/20181203006091/en/
For media queries on KKR:Cara
MajorKKRCara.Major@kkr.comFor media queries on V3
Group:Jeffrey FangExecutive Director, Black
Dotjeffrey@blackdot.sg
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