Carlyle to acquire a minority stake in Varmora for $81m.

Carlyle, an American multinational private equity firm, agreed to acquire a minority stake in Varmora, a manufacturer of premium homeware products, for $81m. “We are very impressed by the brand salience and consumer pull that Varmora has created. We believe this is driven by a differentiated product portfolio, strong pan-India distribution network and an exceptional management team. We are excited to partner with Bhavesh Varmora, the Varmora brothers and their entrepreneurial team to help accelerate the next phase of the company’s growth journey as a leading consumer-oriented business. We also view Varmora as a platform for consolidation in the fast-growing building materials space," Amit Jain, Carlyle Managing Director and Co-Head of India Advisors.