Camlin Fine Sciences Limited (CFS) announced today it has entered into a Share Purchase Agreement to acquire a majority stake in Vinpai S.A., a French ingredients technology company specializing in natural alternatives to chemical additives.
The shares of Camlin Fine Sciences Limited (CFS) were trading at ₹159.20, down by ₹1.81 or 1.12 per cent on the NSE today at 11.18 am.
The acquisition will be primarily executed through a share swap, with CFS issuing new equity shares to Vinpai’s sellers. Simultaneously, CFS will invest €3.3 million in Vinpai through convertible bonds, which will later be converted to equity shares.
Following the initial acquisition, CFS will launch a mandatory cash tender offer at €3.60 per share for the remaining public shares of Vinpai. If CFS achieves over 90 per cent ownership, it may initiate a squeeze-out process under French law.
Vinpai, founded in 2011 and listed on Euronext Growth Paris since July 2023, designs and manufactures algae, plant, mineral, and fiber-based functional ingredients for the food, cosmetics, and nutraceutical industries. The company generated revenue of €9.2 million in 2024, operating from two sites in France with 43 employees.
CFS expects the acquisition to enhance its product range and technological capabilities. The transaction is expected to complete by June 30, 2025, subject to regulatory approvals and other conditions.