Transaction Overview - AdVini and Cordier by InVivo have entered exclusive negotiations for a merger, with a binding agreement signed for AdVini to acquire part of Cordier's activities valued at approximately €11.5 million [1][2] - The merger will involve a contribution of shareholdings and business assets from Cordier to AdVini, along with a cash component, resulting in Cordier holding about 7.8% of AdVini's share capital [2][6] Strategic Rationale - The merger is designed to enhance brand complementarity, product ranges, and distribution networks, aligning with a shared vision for sustainable viticulture and strong ESG policies [2] - AdVini aims to accelerate growth, enter the sparkling and low-alcohol wine markets, and expand its international distribution network, benefiting all its wine estates [5] Governance and Approval - InVivo Group will have a representative on AdVini's Board of Directors, and a shareholders' agreement will be established between InVivo and AdVini's controlling shareholders [3] - The transaction has been approved by AdVini's Board of Directors but is subject to the appointment of a contribution auditor and an Extraordinary General Meeting scheduled for April 30, 2026 [4] Financial Impact - The merger will provide AdVini with additional export sales of around €50 million and strengthen its commercial positions through Cordier's distribution subsidiaries in key markets such as the Netherlands, Belgium, the United States, Canada, and Japan [7] - The contribution includes the Café de Paris sparkling wine brand and its production site, enhancing AdVini's portfolio [6] Industry Context - The wine industry is facing challenges due to declining consumption and climate change, making this merger a strategic move to secure growth and supply chains [5] - AdVini, with its long history and commitment to sustainability, aims to reinforce its leadership in the wine sector through this consolidation [10][12]