Bf, 575 million plan to grow in size and abroad – Corriere.it

Bf prepares for the dimensional and international leap. The holding company active in the Italian agro-industrial chain has launched an ambitious industrial plan subject to a capital increase of 300 million euros through the issue of shares to be offered as an option to shareholders. No new shareholders are expected at the moment but unsubscribed shares may be offered to third parties. «Some shareholders of Bf have already expressed their support for the subscription of the capital increase. In particular, Dompè Holdings – underlines a note – Intesa Sanpaolo and Arum, which hold a total of 50.18% of the share capital, have irrevocably undertaken to fully exercise all the option rights due”.. Equita and JP Morgan will be the Equity Capital Markets Advisors of the transaction. Investments between now and 2027 are equal to around 575 million euros and will have to push the value of production at the end of the plan to 2 billion euros (today they are 1.4) and Ebitda to over 150 million. Likewise, dividends will rise so as to bring shareholder remuneration to more than 70 million.

“This plan – reports the CEO of Bf, Federico Vecchioni – leverages the constant growth trend that the Bf group has developed since its inception, with full consistency between the objectives set and the actions implemented. The Bf Group represents a unique entrepreneurial subject with a strong and natural geopolitical vocation, characterized by the firm intention of operating in the national interest, and oriented, from birth, towards concrete ESG objectives and the creation of value”. The sale of minority shareholdings is also being studied, which could yield an additional 200 million, as for example is happening for 49% of the agricultural company Bonifiche Ferraresi. Finally, Bf envisages the use of financial leverage instruments for around 75 million. The objective is the growth and efficiency of the existing agro-industrial sectors, the seed pole and the Italian agricultural consortia, but also the development of an internationalization process, with the aim of exporting the supply chain model and know-how of the Bf group, in the food and non-food sectors, and to oversee all production and commercial phases, setting up Bf International; and finally the creation of a training offer and the start of research in the agritech field with Bf University.