KPS Capital Partners LP has announced that its portfolio company American & Efird (A&E) signed definitive agreements to acquire majority ownership of Vardhman Yarns and Threads Limited from its joint venture partner, Vardhman Textiles Limited. Upon completion of the transaction, A&E will own 89 per cent of the joint venture and Vardhman Textiles will own the other 11 per cent. The transaction has been approved by A&E and Vardhman Textiles, but remains subject to approval from the Competition Commission of India and other customary closing conditions.