AdVini finalizes acquisition of part of Cordier's wine business through share issuance
AdVini has completed the acquisition of a portion of Cordier by InVivo's wine operations, involving the issuance of new shares and the use of existing shares for payment.
French wine company AdVini has officially finalized the acquisition of a portion of Cordier by InVivo's wine operations.
As part of the transaction, AdVini issued 239,314 new ordinary shares and used 91,651 treasury shares as payment. Both were valued at €35.20 per share. Following this, Cordier by InVivo and its affiliates hold a 7.9% stake in AdVini.
The acquisition, initially agreed upon on March 12, brings additional business lines to AdVini, including the historic "Café de Paris" brand and entry into the growing sparkling and de-alcoholized wine markets. It also significantly strengthens AdVini's position in Bordeaux.
Furthermore, the deal expands AdVini's distribution network and sales into new markets such as the Netherlands, Belgium, the United States, Canada, and Japan. The acquisition is projected to add approximately €50 million in annual export sales and bolster its field sales teams.