Crescita Obtains Shareholder Approval To Be Acquired By ClinActiv Holdings
Crescita shareholders overwhelmingly back ClinActiv buyout, paving the way for a clean exit at the premium offer.
Crescita Therapeutics obtained shareholder approval on May 14, 2026, for its previously announced all‑cash acquisition by ClinActiv Holdings Inc. 99.58% of shareholders and 99.53% of minority shareholders voted in favour of the plan of arrangement. The transaction remains subject to final court approval (hearing set for May 20, 2026) and is expected to close in Q2 2026. Under the terms, Crescita shareholders will receive $0.80 per share, subject to a working‑capital adjustment with a floor of $0.75.
The shareholder vote is a necessary procedural milestone that was widely expected. The M&A announcement on March 16, 2026, already caused the stock to re‑rate from ~$0.47 to the $0.73–$0.76 range where it has traded ever since. Today’s news confirms the deal is on track but introduces no new information that would further reprice the shares. The market’s muted reaction (price unchanged around $0.76) confirms that the vote was fully priced in. Therefore, the news has no incremental material impact.
Crescita Therapeutics operates a dual‑segment model:
- Commercial Skincare: Owns and distributes branded skincare products (including recently acquired Laboratoire Provence‑Canada assets and the Bacti Control brand).
- Manufacturing & Services: Provides contract manufacturing to third‑party brands, enhanced by a five‑year exclusive supply agreement with a former LPC client.
- Licensing & Royalties: Holds rights to Pliaglis® in multiple territories after regaining them from Croma Pharma, for which it received a €575k termination payment in 2025.
The company’s manufacturing facility lease was renewed through 2031, signalling operational stability. However, all operations will be folded into ClinActiv Holdings once the acquisition closes, with management acquiring the non‑core assets post‑transaction.