History

Bonifiche Ferraresi S.p.A. was established in England under the name of Ferrarese Land Reclamation Company Limited, to operate in the "reclamation of lakes, the purchase of marshes and land in the vicinity of Ferrara".

Bonifiche Ferraresi S.p.A. was authorised by royal decree to operate in the Kingdom of Italy, under the name of Società per la Bonifica dei Terreni Ferraresi.

Bank of Italy acquires the majority of the share capital of Bonifiche Ferraresi S.p.A.

The shares of Bonifiche Ferraresi S.p.A. are listed on the stock exchange.

Bonifiche Ferraresi S.p.A. cultivates its own land and markets its products according to a traditional agricultural model.

Establishment of B.F. S.p.A. (then B.F. Holding S.p.A.) by Fondazione Cariplo, Sergio Dompé, PER S.p.A., Aurelia S.r.l., Autosped G S.p.A., Fondazione Cassa di Risparmio di Lucca, Agritrans S.r.l., Inalca S.p.A. and Ms Ornella Maria Randi Federspiel as a corporate vehicle for the purpose of finalising the acquisition of the majority shareholding in the capital of Bonifiche Ferraresi S.p.A. from the Bank of Italy. The takeover bid was completed, as a result of which B.F. S.p.A. holds approximately 79% of the capital of Bonifiche Ferraresi S.p.A.

Bonifiche Ferraresi S.p.A. carries out a share capital increase of about Euro 32 million for the implementation of the 2015-2019 business plan.

Bonifiche Ferraresi S.p.A. acquires the company owned by Bonifiche Sarde S.p.A. in liquidation and the concession of agricultural land owned by the Regional Agency for the Implementation of Agricultural Programmes and Rural Development - Laore Sardegna, expanding the available agricultural land by a further 1,000 contiguous hectares in the municipalities of Arborea, Marrubiu and Terralba (OR).

The realisation of the projects envisaged in the 2015-2019 Business Plan was completed, such as (i) the restructuring of the operating headquarters, (ii) the Jolanda di Savoia eco-livestock district with more than 4,600 barns, (iii) the Jolanda di Savoia campus for hospitality and event organisation activities, (iv) the rice and barley processing and packaging plant, and (v) the irrigation systems of the Tuscan company.
Bonifiche Ferraresi S.p.A. forms a joint venture with ISMEA: IBF Servizi S.p.A. is created with the objectives of improving the competitiveness of Italian agriculture, increasing quality, reducing costs and making environmental impacts sustainable.
B.F. S.p.A. completes the OPAS - Public Purchase and Exchange Offer - on the shares of Bonifiche Ferraresi S.p.A. and becomes the owner of 100% of them. The shares of B.F. S.p.A. are listed on the stock exchange. The stock exchange listing of Bonifiche Ferraresi S.p.A. shares is revoked.
As part of its supply chain control and value generation strategy, B.F. S.p.A. acquires (i) a stake of approximately 41% in the share capital of S.I.S. Società Italiana Sementi S.p.A., a leading seed company in Italy, and (ii) through B.F. Agro-Industriale s.r.l., the business unit owned by Suba Alimentare s.r.l. operating in the packaging and marketing of seeds, cereals and processed legumes, which allows the BF Group to acquire new market shares in the large-scale distribution and to complete an Italian basket offered to consumers.

B.F. S.p.A. establishes Leopoldine s.r.l. to which 21 prestigious buildings located in the province of Arezzo are transferred with the objective of enhancing the real estate assets through their architectural and landscape recovery. The renovation is completed of the leopoldina "I Granai", destined to house the new headquarters in Tuscany, with new offices, a new research and processing centre for medicinal plants, a reception and tasting area for the company's products, and a flagship store dedicated to the sale of all Le Stagioni d'Italia branded products.
B.F. S.p.A. carries out a share capital increase of approximately Euro 121 million for the implementation of the BF Group 2018-2020 business plan.

E-Geos S.p.A. and A2A Smart City S.p.A. enter the share capital of IBF Servizi S.p.A. with a 14.5% stake each.
The BF Group acquires Tenuta Il Cicalino.

The share capital increase of B.F. S.p.A. is finalised for a total amount of Euro 45 million, aimed at raising the financial resources needed to fully implement the investments envisaged in the BF Group 2018-2020 business plan.
B.F. S.p.A. acquires from the Sacchi family the 35% stake in the share capital of Progetto Benessere Italia s.r.l., thus continuing its verticalisation project.
The investment agreement is signed and executed between B.F. S.p.A., Consorzio Agrario dell'Emilia Società Cooperativa, Consorzio Agrario del Tirreno Società Cooperativa, Consorzio Agrario Centro Sud Società Cooperativa and Consorzio Agrario Adriatico Società Cooperativa in Consorzi Agrari d'Italia S.p.A. ("CAI"), under which B.F. S.p.A. becomes the owner of about 37% of the CAI share capital and consolidates its vocation as a strategic hub, proving itself capable of generating value for all its stakeholders from the virtuous integration of the 100% Italian food chain from land to food.

The structure of Bonifiche Ferraresi S.p.A. was reorganised through the transfer of the business unit involved in the agricultural and livestock farming activities, as well as the related activities consisting in the processing and valorisation of agricultural products and agri-tourism activities to B.F. Agricola s.r.l. As a result of this transaction, Bonifiche Ferraresi S.p.A. retains (i) the bare ownership of the land located in the agricultural estates in the province of Ferrara, the province of Arezzo and Massa Marittima (GR), (ii) the farm located in Sardinia and (iii) the non-instrumental properties, while B.F. Agricola s.r.l. is the owner of (i) the 20-year usufruct right on the land located on the aforementioned agricultural estates, (ii) the ownership of the production facilities connected to agricultural activity, as well as the buildings instrumental to the same.
B.F. S.p.A. launches the plan to enhance the value of its subsidiary Bonifiche Ferraresi S.p.A. through the entry in the company's share capital, provided it retains control, of investors interested in sharing the BF Group's development in the agri-food sector and, more generally, in consolidating and strengthening the BF Group's network in the Italian agri-food industry, initiatives in which BF intends to invest the proceeds from such enhancement.
A total of 4.75% was sold (2.5% to Fondazione Cassa di Risparmio di Lucca, 1.25% to Equiter - Investimenti per il Territorio S.p.A. and 1% to Defendini Logistica s.r.l.).
B.F. S.p.A. approves the investment for a total of Euro 120 million in the Fondo Italiano Agritech & Food, a closed-end Italian alternative investment fund reserved for professional investors, established and managed by Fondo Italiano d'Investimento SGR S.p.A. with the purpose of supporting and developing in an organic and integrated manner the agri-tech and food sector and in which B.F. S.p.A. will bring capital, know-how and leadership, promoting its role as an important national player in the agri-food chain.
B.F. S.p.A. and Eni S.p.A. sign and execute an agreement regarding (i) the establishment of an equal-share equity joint venture for the purpose of carrying out research, experimentation and analysis activities by the BF Group on oilseed plant seeds in order to use them as feed-stocks for Eni bio-refineries, the evaluation of the possibility to economically produce the same seeds and to develop pilot projects in the countries where Eni is present, and the training of Eni or the joint venture personnel to be employed in the development chains of bio-feedstock projects (ii) the purchase by Eni Natural Energies S.p.A., a subsidiary of Eni S.p.A., of a 5% stake in the share capital of Bonifiche Ferraresi S.p.A.; (iii) the entry of Eni Natural Energies S.p.A. in the share capital of B.F. S.p.A. through a reserved capital increase, as a result of which it holds 3.32%.
Intesa San Paolo S.p.A. enters the share capital of B.F. S.p.A. through a reserved capital increase, as a result of which Intesa San Paolo S.p.A. holds 3.32%.

The investment transaction is confirmed of B.F. S.p.A. in the Fondo Italiano Agritech & Food, under the new terms defined by Fondo Italiano d'Investimento SGR S.p.A. (including setting the investment amount at Euro 60 million instead of the original Euro 120 million).
Signing and execution by B.F. S.p.A. and the other shareholders of Consorzi Agrari d'Italia S.p.A. ("CAI"), of the investment agreement aimed at the entry into CAI of Consorzio Agrario Nordest Società Cooperativa, under which B.F. S.p.A., after having subscribed to a share capital increase of CAI in the amount of Euro 25 million, becomes the owner of a stake of approximately 36%, and, based on the defined governance rules, maintains CAI and its subsidiaries within the scope of consolidation for the purposes of IFRS 10.
The plan to enhance the value of the subsidiary Bonifiche Ferraresi S.p.A. continued with the sale of 11.925% (0.625% to LEB, 1.5% to Fondazione Sardegna, 1.25% to Finsipo s.r.l., 0.55% to Fondazione Banca del Monte di Lombardia, 5% to Eni Natural Energies s.r.l. and 3% to CVA).
As part of the broader project to consolidate the BF Group's control over the Italian food chain, B.F. S.p.A. acquires BIA S.p.A., an Italian specialist in the production of couscous from the Italian supply chain.
B.F. Agricola s.r.l., together with the other minority shareholders, sells the entire share capital of IBF Servizi S.p.A. to Nextalia SGR (on behalf of the Nextalia Private Equity Fund) and, in confirmation of the value of the development project in the agri-tech sector, reinvests, through the subscription of a capital increase, part of the purchase price received in Agri-Holding s.r.l., the holding company of IBF Servizi, holding a stake of approximately 20% of the share capital.

The share capital increase of B.F. S.p.A. is finalised for a total amount of Euro 300 million, aimed at raising part of the financial resources needed to implement the BF Group's 2023-2027 business plan designed to strengthen the supervision of the domestic agro-industrial chain and consolidate the path of expansion abroad and professional qualification of human capital.
The plan to enhance the value of the subsidiary Bonifiche Ferraresi S.p.A. continued with the sale of 2.88% (0.627% to Rolli, 1% to Banca Fucino, 1.25% to Regolo).
An agreement is signed with EcorNaturaSì S.p.A. and its shareholders for the start-up of a strategic collaboration that promotes the integration of the production and distribution chain of organic food products, and that envisages the signing of a commercial agreement for the purchase and distribution by EcorNaturaSì of organic products produced and/or marketed by the BF Group and the BF Group's entry into the share capital of EcorNaturaSì S.p.A.
Agreements are signed that will enable BF Algeria to complete the process for the granting of the concession for the cultivation of south Saharan areas of the territory by the Algerian government, which has already allocated a cultivable area of approximately 900 hectares.
BF International Best Fields Best Food LTD ("BFI"), a subsidiary of B.F. S.p.A. signs in Cairo the strategic investment programme for sustainable food security to be realised through a joint venture between BFI and the local company Future of Egypt, which will involve a 15,000 hectare site in the Dabaa region.

BF International Best Fields Best Food LTD ("BFI") enters into a corporate partnership with Musahamat Farms Limited, a company under Ghana law active in the agricultural sector. The company BF GHANA LIMITED was established, a subsidiary of BFI, to which the MUSAHAMAT business unit is conferred, which includes about 260 workers and the assignment, as a result of the authorisation already issued by the Ghana government, of the concession for the cultivation of an area located in the Volta River region for an extension of about 1,700 hectares, to which, based on the agreements signed between the parties, a further concession will be added for the cultivation of an area located in the same region for an extension of about another 5,900 hectares.
BFI signs a memorandum with Agrofirma TNK LLP, a leading agricultural company in Kazakhstan with approximately 400,000 hectares of land in the Akmola Region, to launch a strategic partnership for the development of the agri-food sector in Kazakhstan.
Signing and execution by B.F. S.p.A. and the other shareholders of Consorzi Agrari d'Italia S.p.A. ("CAI"), of the investment agreement aimed at the entry into CAI of Consorzio Agrario di Siena Società Cooperativa, under which B.F. S.p.A., after having subscribed to a share capital increase of CAI in the amount of Euro 12.5 million, remains the owner of a stake of approximately 36% and, based on the defined governance rules, maintains CAI and its subsidiaries within the scope of consolidation for the purposes of IFRS 10.
B.F. S.p.A. and subsidiaries Consorzi Agrari d'Italia S.p.A. ("CAI") and S.I.S. Società Italiana Sementi S.p.a. ("SIS") - active in the seed sector and, in particular, in the production, processing and marketing of seed products - signed an investment agreement with Eni Natural Energies S.p.A. ("ENE"), a subsidiary of Eni S.p.A., aimed at consolidating the collaboration relationship started between the ENI Group and the BF Group with the objective of developing seed production in the non-food sector for the energy chain. The agreement provides for (i) ENE investment in the share capital of SIS for a total amount of Euro 25 million, after which the ENE stake will be approximately 17%, and (ii) the conclusion between ENE and SIS of a 10-year commercial framework agreement for the creation of a non-food seed division within SIS, as well as reciprocal obligations and rights regarding the supply of seeds by ENE.
B.F. S.p.A. and the subsidiary BFI have signed an investment contract with SIMEST S.p.A., a company for the internationalization of the companies of the Cassa Depositi e Prestiti Group, which provides for a total financial intervention of Euro 15 million in favor of BFI (Euro 4.25 million as investment in the share capital and Euro 10.75 million as disbursement of shareholder financing) aimed at supporting the international expansion project of the BF Group, with a duration until 31 December 2029. As envisaged in the investment contract, BFI has approved a capital increase social capital of a total of Euro 54.25 million, of which Euro 50 million reserved for BF and Euro 4.25 reserved for SIMEST S.p.A..
BFI purchased from Agriconsulting S.p.A. and by Francesco Saverio Grazioli the participation representing the entire share capital of Agriconsulting Europe S.A. (“AESA”) and its subsidiaries and entities: AESA Hungary Ltd, AESA East Africa, Agriconsulting Maroc S.A., Bonfina Europe S.A. (all wholly owned) and AGRECO Geie (50% owned). AESA is a Belgian company that deals with the management of projects financed, among others, by the European Union, the management of tenders and technical assistance in the fields of agriculture, climate change, environment, economic and social development, present in over 75 countries around the world. Agriconsulting S.p.A. was the subject of a simultaneous sale in favor of Diagram S.p.A.. Through a reserved capital increase operation, one of the sellers of Agriconsulting S.p.A. acquired a stake equal to 3% of the capital of AESA.
B.F. S.p.A. launches the valorization plan of the subsidiary BFI through the entry of new investors into its share capital, up to a maximum of 49% of the share capital, to support the group's internationalization process and in line with the 2023-2027 industrial plan , approved on 21 July 2023. The following are included in the overall valorisation operation of BF International: (i) the entry into the share capital of BFI of Inarcassa – Cassa Nazionale di Previdenza ed Assistenza per gli Ingegneri e Architetti Liberi Professionisti, already a shareholder of BF , which occurred through (a) the subscription of a reserved share capital increase for no. 350,885 shares for a total consideration of Euro 2,499,996.69, and (b) the purchase from BF of n. 349,131 shares for a total consideration of Euro 2,487,499.73; (ii) the entry into the share capital of BFI of Quinto Giro Investimenti s.r.l., which occurred through (a) the subscription of a reserved share capital increase for n. 28,071 shares for a total consideration of Euro 200,000.26, and (b) the purchase from BF of n. 252,638 shares for a total consideration of Euro 1,799,995.22; (iii) the entry into the share capital of BFI of Dompé Holdings s.r.l., already a shareholder of BF, which occurred through the purchase from BF of n. 2,807,096 BFI shares for a total consideration of Euro 19,999,997.58; (iv) the entry into the share capital of BFI of ITACA Multi Strategy, a fund managed by Miria Asset Management Limited, through (a) the subscription of a reserved share capital increase for n. 701,774 shares for a total consideration of Euro 4,999,999.40, and (b) the purchase from BF of n. 701,774 shares at a total price of Euro 4,999,999.40.
B.F. S.p.A. sold its entire stake in FieldEd S.p.A. (“FieldEd”) to Digit’Ed S.p.A., Italian leader in the education sector, portfolio company of the closed-end reserved fund “Nextalia Private Equity” managed by Nextalia SGR S.p.A., at a purchase price of Euro 16 million. FieldEd has been entrusted with the exclusive supply of professional training services to the entire BF Group and its network, on the basis of a multi-year agreement stipulated by FieldEd, BF Educational S.r.l. (“BF Educational”), a company controlled by BF, and BF itself. Please note that BF Educational is the BF Group company established with the aim of enhancing a training offer in the agritech sector and focused on the development of three business branches - higher education, research activities and professional training - according to the 2023 industrial plan - 2027 of the BF Group approved on 21 July 2023. FieldEd is the company established with the aim of concentrating the BF Educational activities related to professional training in a different legal entity.