Camlin Fine Sciences Subsidiary Acquires Vitafor Group

On June 11, 2024, Camlin Fine Sciences Limited announced that its wholly owned subsidiary, Dresen Quimica SAPI De CV, in Mexico, signed a Share Purchase Agreement (SPA). This agreement will acquire a 100% stake in Vitafor Invest NV, Belgium, along with its subsidiaries and associates.

Details of the Acquired Entity

The target entity is Vitafor Invest NV, Belgium, along with its subsidiaries and associates, which include Addi-Tech NV (100%), Vitafor NV (100%), Vitafor China Ltd (100%), Europe Bio Engineering BV (100%), and Vial Sàrl (45%). Collectively, these entities are referred to as ‘Vitafor’.

Vitafor Invest NV, established on February 21, 2018, is situated 20 kilometres south of the port of Antwerp. Vitafor belongs to the Animal Feed Industry.

Vitafor specialises in manufacturing and trading products for the animal feed industry. It offers a comprehensive range of feed ingredients, nutritional products, hygiene products, and disinfectants, providing a one-stop solution for customers. In 2023, Vitafor generated a turnover of €16.55 million and incurred a post-tax loss of €1.18 million. Vitafor’s net worth was approximately €6.78 million as of the same year.

Objects And Effects Of Acquisition

Camlin Fine Sciences Limited’s wholly-owned subsidiary, Dresen Quimica SAPI De CV, Mexico (Dresen), will acquire a 100% stake in Vitafor for a total consideration of €1 (one Euro).

The acquisition will integrate Vitafor’s product range with the company’s group, leveraging the existing customer base to market these products. This synergy is expected to enhance and expand Vitafor’s product lines with current customers. Additionally, the group plans to utilise Vitafor’s facilities and network to strengthen and grow its presence in the European feed and pet food market and the African market. The acquisition is expected to be completed by June 11, 2024.

About Camlin Fine Sciences Limited

Camlin Fine Chemicals Ltd is a leading Indian manufacturer and exporter of bulk drugs, fine chemicals, and food-grade products. The company produces active pharmaceutical ingredients (APIs), food antioxidants, and sweeteners.

On June 12, 2024, Camlin Fine Chemicals Ltd’s share price opened at ₹107.20 and touched its highest price at ₹113.29 as of 09:50 AM on the NSE.

Disclaimer: This blog has been written exclusively for educational purposes. The securities mentioned are only examples and not recommendations. It is based on several secondary sources on the internet and is subject to changes. Please consult an expert before making related decisions.