V3 Group boosted by S$500 million investment from KKR

The injection of funds should help this Singaporean enterprise V3 with its next phase of growth, positioning the company with its expansion plans in Japan, the US and China

V3 Group Limited ("V3" or the "Company"), a specialty retailer of luxury lifestyle and wellness products in Asia, has revealed 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. The transaction was advised by Evercore, the exclusive financial adviser to V3.

Headquartered in Singapore, V3 owns and develops premium products and services through its 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.

Ron Sim, founder, executive chairman and chief executive officer of V3, says, " 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."

Keith Magnus, chairman of Evercore Asia, and architect of the transaction, says, "The strategic partnership heralds a sensational new phase of growth for V3 and will help fuel and expedite the execution of V3's global plans across its businesses."

Magnus further adds, "This is the most significant transaction the V3 Group has consummated to date."

V3 has a history of brand creation and development, with a presence in over 100 cities in 26 countries around the world.

Jaka Prasetya, member of KKR, says, "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."

KKR's investment marks the beginning of a relationship with V3, and undoubtedly bolsters the prospects of one of Asia's most recognizable luxury groups. KKR is making this investment from its Asian Fund III.

 

Date

6 Dec 2018

Channel

Capital Markets

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