AdVini Completes Acquisition of Cordier by InVivo for 8.4 Million Euros
AdVini has completed the acquisition of part of Cordier by InVivo's activities by issuing 239,314 ordinary shares and transferring 91,651 treasury shares. The transaction, valued at 8.4 million euros, was approved by the extraordinary general meeting of the wine group.
An Acquisition Structured Around Three Distinct Perimeters
The acquisition operation is structured around three main components. Cordier SAS contributes its business assets including on and off trade activities in France and abroad (excluding the Netherlands and Belgium), as well as its own brands and the 'Café de Paris' brand with its distribution contracts in France, Switzerland, and Japan. The same entity also contributes all of the 6.216 million shares it holds in Cordier Excel, a subsidiary with a capital of 6.216 million euros. Cordier Group Holding B.V. transfers the 15,000 shares comprising the entire capital of Cordier NL, its Dutch subsidiary. Additionally, AdVini acquires Cordier Japan, the Béné business assets, and the business assets of Cordier BE. These supplementary operations are compensated by the transfer of 91,651 treasury shares valued at an equivalent debt. At the end of all operations, the Cordier by InVivo group holds 330,965 AdVini shares, representing 7.9% of the company's capital.
A Capital Increase of 1.9 Million Euros and a Dilution of 6.07%
The contributions were evaluated at their real value, set at 8,423,910 euros according to the contribution agreements. This value was assessed by a contribution auditor appointed on March 18, 2026, who confirmed in his report dated April 21, 2026, that the value was not overestimated and that the proposed compensation was fair. The issuance of 239,314 shares at a price of 35.20 euros, accompanied by a balancing payment of 57.20 euros, results in an increase in the share capital by 1,914,512 euros, bringing the total capital to 33,449,192 euros. The capital is now divided into 4,181,149 ordinary shares. The new shares represent 6.07% of the capital before issuance and result in a dilution for a shareholder holding 1% of the capital, reducing their stake to 0.94%. The new shares will be subject to a request for admission to trading on Euronext Paris under the ISIN code FR0000053043.
A Merger Based on Complementarity and Sustainability
This merger is based on the complementarity between the brands, product ranges, and commercial networks of the two groups. Cordier by InVivo was also appointed as a censor on the Board of Directors of AdVini by decision on April 14, 2026. A shareholders' agreement was concluded on the same day between InVivo and the controlling shareholders of AdVini.
