A long era of entrepreneurship in Romagna has come to a close with the transfer of control of F.lli Martini, a historic agri-food group based in Longiano, to the BF International Group. The transaction, valued at €220 million, marks the entry of one of Italy's leading agri-food companies into a company that for over a century has been closely linked to the Cesena area and its founding family.
The official announcement confirms long-standing rumors of a possible shareholder reorganization, especially given the complex generational transition. The acquisition will be carried out through a newly established special purpose vehicle, Holdco, in which BF International will hold a majority stake, while a portion of the current shareholders will reinvest in the capital.
Specifically, the sellers will reinvest approximately €20 million, retaining a stake of approximately 15% in the new company. The agreement provides for managerial continuity, with Antonio Montanari, current president, and Filippo Martini retaining senior roles within the group.
The transaction is expected to close by May 2026, subject to customary authorizations.
Founded over a hundred years ago, F.lli Martini is today an integrated group active in the feed, livestock, and food sectors, with several plants in Romagna and other areas of the country.
In 2024, it recorded a consolidated production value of approximately 1,2 billion euros and an EBITDA of 72 million, employing over 1.400 people.
BF International's entry is part of a growth strategy focused on the vertical integration of agri-food supply chains, particularly animal protein. According to BF, the sector represents a strategic asset for combining economic development, sustainability, and food security, even on an international scale.
The agreement also regulates Holdco's governance, providing veto rights for reinvesting shareholders and the ability to appoint representatives to the board of directors and the board of statutory auditors.
There are also capital exit options starting in 2031.
For the Martini family, marked over the years by serious losses and an increasingly fragmented shareholder base, the operation represents a moment of discontinuity but also of industrial relaunch.
For BF International, listed on Euronext Milan, this is a key step in strengthening its presence at the heart of the Italian agribusiness.
