VLCC has acquired 80 per cent stake in Singapore-based high-end personal care, dermatology products and cosmetics maker, Global Vantage Innovative Group (GVig).

The acquisition, valued between Rs 175 crore and Rs 180 crore, has been funded through internal accruals.

In addition to this, VLCC plans to acquire the remaining 20 per cent stake in GVig by next year.

The acquisition of GVig is VLCC's second overseas acquisition in less than a year.

In November 2012, VLCC, a wellness products and slimming services company, had acquired 80 per cent stake in Malaysian slimming and beauty services chain, Wyann International, for over Rs 100 crore.

GVig is the holding company of the group that owns and operates through three subsidiaries across South Asia - BelleWave Cosmetics, Celblos Dermal Research Centre and Enavose Life Science Research.

The acquisition will enable VLCC to develop a laboratory and manufacturing facility in Singapore.