Multiples to acquire a 32% stake in VIP Industries for $650m.

Multiples, a private equity firm, agreed to acquire a 32% stake in VIP Industries, a luggage manufacturer for $650m. “We are pleased to welcome Multiples consortium as strategic partners in the Company. This marks an important step toward reviving the company’s strong legacy and helping it regain its foothold in the Indian luggage market, where it has struggled in recent years,” Dilip Piramal, VIP Industries Chairman.