(Tiper Stock Exchange) – Nextalia SGR has signed a binding agreement to purchase by BF Agricola, a company controlled by BF (a company listed on Euronext Milan), and by other minority shareholders, ofentire share capital of IBF Servizia reference operator in Italy in precision agriculture services, technological innovation and professional software solutions for the agro-food sector.
As of September 30, 2022, the production value consolidated balance of IBF stands at around 7.5 million euro, while theEBITDA to approximately 3.03 million euros. The value of production on the separate financial statements of IBF stands at around 5.28 million euro, while the EBITDA at around 1.98 million euro.
The operation involves the acquisition of a purchase price of 50 million euros and the contextual creating a strategic partnership with BF and its subsidiary Consorzi Agrari d’Italia (CAI). For the purposes of payment of the consideration, Nextalia will use its own resources and will only partially resort to a loan from leading banks.
It is expected that BF Agricola will re-investthrough the subscription of a capital increase, part of the purchase price collected in the company which – post closing – will be the holding company of IBF, in order to hold a stake equal to approximately 20% of the share capital of the same.
Robert Mancinia manager with twenty years of experience in the field of technology, services and management of distribution networks, will assume the role of Chief Executive Officer of IBF.
“There creation of the national champion in the Agritech sector is perfectly consistent with Nextalia’s strategy of supporting Italian excellence, offering capital and investments to support an ambitious growth and consolidation plan, also through acquisitions, in a highly fragmented sector”, commented Francesco Canzonierimanaging director of Nextalia SGR.