Financial terms of the transaction were not disclosed
India based wellness company VLCC has acquired a majority controlling stake in Singapore's Global Vantage Innovative Group (Gvig). The company owns and operates three subsidiaries: BelleWave Cosmetics, Celblos Dermal Research Centre, and Enavose Life Science Research, which manufacture and retail a range of beauty and wellness products and solutions in markets around southeast Asia.
The acquisition follows soon after VLCC snapped up a majority stake in Wyann International last November, a slimming and beauty services provider based in Malaysia.
“We are delighted to welcome GVig into the VLCC family as it will allow us to leverage GVig’s strong brand equity and its excellent portfolio of wellness products and solutions to establish an even stronger footprint in important markets in southeast Asia by complementing the existing VLCC Natural Sciences range of skin, hair and body care products,” said Mukesh Luthra, Chairman, VLCC Group.