Core Insights - Italian agribusiness group BF has agreed to sell a controlling stake in its couscous business Bia to private-equity firms PM&Partners and Armònia, with financial terms undisclosed [1] - The investment aims to accelerate Bia's growth through external development opportunities, leveraging its strong customer base in Italy and abroad [1] Company Overview - Bia is currently held by BF Agroindustriale, which is controlled by BF, alongside Ocrim and Investimenti Industriali [2] - Following the deal, BF AgroIndustriale and Investimenti Industriali will retain approximately 10% and 5% of Bia's share capital, respectively [2] Financial Performance - BF acquired Bia in 2022 as part of a strategy to develop an integrated grain hub, consolidating control over the Italian food supply chain [3] - Under BF's ownership, Bia's revenues increased from approximately €33 million ($37.9 million) in 2021 to €48 million in 2024, with EBITDA around €7 million [3] Market Position - Bia focuses on private-label couscous and has recognized leadership in Italy, France, and Spain, with strong positioning in gluten-free and organic products [4] - Bia produces couscous at three facilities in Argenta, with an annual production capacity of 54 million kilograms and packaging over 24 million cases a year [5] Broader Business Context - BF's portfolio includes other brands such as Le Stagioni d'Italia, Zorzi, and Fabianelli [6] - BF reported consolidated revenue in 2024 rose 8.5% to €1.5 billion from 2023, with EBIT increasing to €46 million, a rise of approximately 53% from the prior year [6]

Core Insights - Forafric Global has appointed Khalid Assari as Chairman of the Board, effective April 4th, 2025, replacing Saad Bendidi [1][2] - Khalid Assari has a strong background in the agricultural business, previously holding senior positions at Caisse de Dépôts (CDG Group) and holds an MBA in finance [2] - Forafric is a leading agribusiness in Africa, specializing in milling and exporting products to over 45 countries, with plans for further expansion in Morocco [3] Company Overview - Forafric operates in Morocco and Sub-Saharan Africa, focusing on flour, semolina, pasta, and couscous production [3] - The company has 12 industrial units and 2 logistics platforms, positioning itself as a leader in the milling industry [3] - Forafric aims to continue its growth trajectory within the Moroccan market [3]