Hong Kong-based Vinda International Holdings Limited has proposed buying 59% of the issued share capital of V-Care Holding Limited for a cash consideration of HK$295 million (~US$38mn). Upon the completion of the transaction, V-Care will become an indirect wholly-owned subsidiary of the Vinda International.
V-Care is principally engaged in the manufacturing and provision of professional personal care products in mainland China, and its principal products include baby diapers and feminine sanitary napkins. V-Care rolled out its proprietary baby care brand, Babifit, in 2011, and a sanitary napkin brand, VIA, which is aimed at young and stylish females in 2013.
“Vinda is dedicated to business diversification because we see a promising prospect in China’s personal care market," says Donna Zhang, CEO of Vinda. "With the personal care business under Vinda’s umbrella, we will not only be able to improve corporate governance, but also exercise complete control over the personal care business and better leverage the group’s resources to reap the maximum rewards from V-Care’s future growth and profitability. This will in turn generate better returns for our shareholders."
Vinda acquires remaining stake in V-Care