Milan, Italy, 18 February 2025 – Farmfront Group (“Farmfront”), a leading global platform of irrigation providers backed by global investment firm Carlyle (NASDAQ: CG), announces that it has signed a strategic commercial partnership and supply agreement with BF International Best Fields Best Foods Limited (“BFI”), a company of BF S.p.A. group (“BF Group”) to provide irrigation solutions to its subsidiary, BFI. The agreement is intended to support BF Group’s international expansion plans and support agro-industrial development in developing economies.

Farmfront has invested €10 million for a minority stake in BFI and, through this five-year agreement, becomes an exclusive supplier of pivot irrigation products and solutions to the business in certain geographies, including Algeria, Libya, and Senegal, as well as becoming a preferred partner across all other geographies. Farmfront and BF Group will jointly support the development of agro-industrial capabilities in countries across Africa, consistent with the Italian government’s ‘Mattei Plan’. Farmfront and BF Group share an ambition to build partnerships and create new and highly efficient farmland across fifteen countries and 150,000 hectares by 2027.

Farmfront combines leading irrigation providers OCMIS, RKD, Irrimec Group, and Otech. Headquartered in Milan and employing more than 450 people across 6 manufacturing sites in Italy, Spain, and France, Farmfront is the largest mechanical irrigation platform in Europe with sales to over 100 countries across the globe.

BF Group is the leader in Italy’s agro-industrial sector, operating across all stages of the agro-industrial value chain. The firm is also the largest developer of agricultural fields in Italy, covering more than 30% of national agricultural land.

Luca Zacchetti, Chairman at Farmfront, said: “We are pleased to partner with BF Group, an Italian agro-industrial leader. Combining our heritage, expertise, and scale in irrigation with BF’ Group’s international network will allow Farmfront to expand its presence in Africa, provide crucial improvements to irrigation efficiency to farmers in a range of developing economies, and strengthen our core mission to conserve and protect global water resources.”

Federico Vecchioni, Chief Executive Officer, at BF Group, said: “This agreement with Farmfront represents a key milestone for our international strategy. As Europe’s leading irrigation provider, Farmfront is the ideal partner to promote stronger farms, and, ultimately, improved economic growth and opportunities in our target markets. We are excited to begin deploying Farmfront technology across our existing projects.”

END

About Farmfront

Launched in October 2023, Farmfront Group is Europe’s irrigation expert and a leading global platform of irrigation providers, combining Ocmis, Irrimec, Otech, and RKD. Headquartered in Milan, Farmfront employs more than 450 people across 6 manufacturing sites in Italy, Spain, and France, with sales to over 100 countries across the globe.

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Carlyle acquires Irrimec, Otech, and RKD, three European irrigation firms, following its acquisition of Ocmis Group last year.

The four companies are combining forces to establish Farmfront Group, which will be led by CEO Daniel Neves and headquartered in Milan, Italy.

Milan, Italy, 31 October 2023 – Global Investment firm Carlyle (NASDAQ: CG) today announced the launch of Farmfront Group (“Farmfront” or “the Group”), a leading global platform of irrigation providers. The creation of the Group follows Carlyle’s 2022 acquisition of Ocmis Group (“Ocmis”) and the recent acquisitions of Irrimec, Otech, and RKD, three European irrigation firms.

RKD and Irrimec Group, which includes Otech in France, will combine with Ocmis, which Carlyle acquired last year. Together, they will operate as Europe’s irrigation expert and a leading global platform of irrigation providers, with the scale and expertise to adapt to different farming realities. Backed by Carlyle, and led by CEO Daniel Neves, Farmfront’s ambition is to become the preeminent one stop shop across all irrigation technologies.

Headquartered in Milan, Farmfront employs more than 450 people across 6 manufacturing sites in Italy, Spain, and France, with sales to over 100 countries across the globe. The Group’s combined turnover of more than €200 million in 2022 makes it the largest player in mechanical irrigation in Europe. The Carlyle Europe Partners platform has invested alongside the founders of the Group companies and will support Farmfront by developing the platform’s commercial and marketing strategy, implementing operational best practice across the constituent businesses, and through further M&A.

Improvements in irrigation efficiency are critical to supporting farmers worldwide in addressing the challenges posed by climate change and water scarcity. The launch of Farmfront strengthens the Group’s mission to conserve and protect water resources.

CEO Daniel Neves brings with him 24-years of experience in agribusiness, with eleven of those spent in dairy farming machinery and thirteen in irrigation, delivering transformation for businesses across Europe and the Americas. Farmfront Group will benefit from Daniel’s deep understanding of the agribusiness and the needs of farmers worldwide. Daniel and the high-quality management team at Farmfront will work closely with leadership at Ocmis, Irrimec, Otech, and RKD, who will continue to manage on-the-ground operations and focus on their respective customer bases.

Daniel Neves, CEO of Farmfront Group, said: “I am excited to lead Farmfront as we look to unlock the potential of a global platform of irrigation providers that combines the expertise of Ocmis, Irrimec, Otech, and RKD. Globally, just 18% of arable land is being irrigated, and of that, just a quarter is being irrigated with efficient technologies. Farmfront aspires to change this status quo, with plans to deliver cutting edge and digitally-enabled irrigation services across the platform, ultimately helping farmers improve their profitability, efficiency, and the sustainability of their daily operations. With Carlyle’s support, I look forward to launching Farmfront into new international markets and further expanding the platform in the years ahead.”

Filippo Penatti, Managing Director of the Carlyle Europe Partners advisory team, said: “Farmfront Group has been established to provide farmers with the complete irrigation solutions they need. By joining these firms together, and establishing a coordinated commercial, marketing, and supply platform we have created a strong runway for growth across the group. We look forward to working alongside Daniel and the wider management teams to bring this world-class solution to market, leveraging our experience in supporting businesses grow internationally and executing M&A.”

About Farmfront
Launched in October 2023, Farmfront Group is Europe’s irrigation expert and a leading global platform of irrigation providers, combining Ocmis, Irrimec, Otech, and RKD. Headquartered in Milan, Farmfront employs more than 450 people across 6 manufacturing sites in Italy, Spain, and France, with sales to over 100 countries across the globe. The Group’s combined turnover of more than €200 million in 2022 makes it the largest player in mechanical irrigation in Europe

About Carlyle
Carlyle (NASDAQ: CG) is a global investment firm with deep industry expertise that deploys private capital across its business and conducts its operations through three business segments: Global Private Equity, Global Credit and Global Investment Solutions. With $385 billion of assets under management as of June 30, 2023, Carlyle’s purpose is to invest wisely and create value on behalf of its investors, portfolio companies and the communities in which we live and invest. Carlyle employs more than 2,200 people in 29 offices across five continents. Further information is available at www.carlyle.com. Follow Carlyle on Twitter @OneCarlyle.

For Carlyle:
Charlie Bristow
charlie.bristow@carlyle.com
+44 7384 513 568

Marina Riva
m.riva@barabino.it
+39 347 2975 426