Italy: BF sells majority stake in couscous division Bia

Italian agribusiness group BF has entered into an agreement to sell a majority stake in its couscous subsidiary Bia to investment funds PM&Partners and Armonia.

Acquired in 2022, Bia specialises in private-label couscous for Italy, France, and Spain, offering gluten-free and organic varieties from three sites in Argenta, Ferrara.

Other brands in the BF portfolio include Le Stagioni d’Italia, Zorzi and Fabianelli.

Commenting on the move, BF chairman Federico Vecchioni said: “We are proud to welcome qualified investors such as PM&Partners and Armònia into Bia’s share capital, which will foster Bia’s consolidation as a leader in couscous production and marketing, while enabling the BF Group to continue investing in strategic food supply chains with the best margins through further M&A transactions”.

Financial terms of the transaction were not disclosed.

Source: Food And Beverage Business