KKR to invest up to S$500 million in Singapore's V3 Group

KKR & Co invested up to S$500 million for a significant stake in V3, at an enterprise value of approximately S$1.7 billion. V3 Group Limited is a leading specialty retailer of luxury lifestyle and wellness products in Asia. KKR made this investment from its Asian Fund III, but did not disclose how much stake was acquired. V3, owner of the TWG Tea brand, said the investment will start the expansion of the brand in Japan and the United States. In addition, it would expand its massage chair brand in China.