KKR to invest in V3 Group

KKR has committed to invest up to 500 million singapore dollars ($366.6 million) in V3 Group Ltd. V3, of Singapore, is a specialty retailer of luxury lifestyle and wellness products in Asia. Evercore advised V3.


V3 Group Limited Welcomes Investment from KKR
S$500M Landmark Investment by KKR in Leading Luxury Group in Asia

SINGAPORE, 4 December 2018 — 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.

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.