BF International lands €220M from Itaca fund in top-decile UK food round
What's the deal? BF International Best Fields Best FoodDealroom has a profile for this one. Try Dealroom →, a subsidiary of Italy's BF SpaDealroom has a profile for this one. Try Dealroom →, has secured a €220 million growth equity investment from the Itaca Multi Strategy Fund. The two parties executed the investment agreement this month, BF Spa said on October 8.
How it works: The deal covers the subscription of 12.6 million ordinary shares at €17.50 each, a unit price set by BFI's board. Itaca's 1.4 million Class B shares were simultaneously converted into ordinary shares.
Why now? The investment follows a €700 million capital increase approved by BFI's shareholders. That raise reserved €350 million for parent company BF and another €350 million for existing shareholders or new investors.
By the numbers: At €220 million, the round ranks in the top 4% of growth equity deals in the UK food sector, based on a sample of 118 comparable rounds tracked all-time.
The signal: Large growth-equity cheques remain rare in food, a sector that typically draws smaller rounds. Itaca's commitment signals continued investor appetite for established agri-food platforms with scale.
Read more: ae.marketscreener.com
Image credit: BF International
