Camlin Fine Sciences Limited (CFS) has announced its decision to acquire a majority stake in Vinpai S.A., a French ingredients technology company that specializes in natural alternatives to chemical additives. The shares of CFS were trading at ₹159.20, experiencing a slight decrease of ₹1.81 or 1.12 per cent on the NSE at 11.18 am today.
The acquisition will primarily involve a share swap, with CFS issuing new equity shares to the sellers of Vinpai. In addition, CFS will be investing €3.3 million in Vinpai through convertible bonds, which will later be converted into equity shares. Following the initial acquisition, CFS plans to launch a mandatory cash tender offer at €3.60 per share for the remaining public shares of Vinpai. If CFS attains over 90 per cent ownership, it may proceed with a squeeze-out process under French law.
Established in 2011 and listed on Euronext Growth Paris since July 2023, Vinpai designs and manufactures algae, plant, mineral, and fiber-based functional ingredients for various industries including food, cosmetics, and nutraceuticals. The company reported revenue of €9.2 million in 2024 and operates from two facilities in France with a workforce of 43 employees.
CFS anticipates that this acquisition will expand its product range and enhance its technological capabilities. The transaction is expected to be completed by June 30, 2025, subject to regulatory approvals and other conditions.
