Italian agri-food firm BF has taken a minority interest in fellow pasta maker Pastificio Fabianelli.
Milan-listed BF, which has the agricultural subsidiary Bonifiche Ferraresi under its wing, has purchased a 30% interest in Pastificio Fabianelli for an undisclosed sum, a spokesperson confirmed to Just Food.
Family-owned Pastificio Fabianelli is headed up by CEO Luca Fabianelli. Based in Castiglion Fiorentino in Arezzo province, the business supplies the retail brands Fabianelli, Pasta Toscana and Maltagliati.
Local media reported Pastificio Fabianelli had a turnover of EUR16m (US$17.2m) last year, 80% of which comes from exports. Just Food has approached the company for clarification and to confirm how much of the business now remains in family hands.
Meanwhile, BRF generated revenues of EUR269m last year and EBITDA of EUR16m. The company owns the Le Stagioni d’Italia brand of pasta, rice, legumes and herbal teas, and the Zorzi line of pasta, legumes, cereals, oilseeds and flours.
In March, BF announced it had become an investor in the Italian Fund Agritech & Food. The fund, set up and managed by Fondo Italiano d’Inoltre, invests in Italy’s agri-food sector.
When BF confirmed its investment, the company said it would “bring capital, know-how and leadership, promoting its role as an important national player in the agri-food chain”.
Fondo Italiano d’Inoltre is controlled by the Cassa Depositi e Prestiti, the state-backed investment back.