A prominent global private equity firm is set to acquire Irca, an Italian manufacturer renowned for its production of value-added ingredients and semi-finished products tailored for the pastry, bakery, chocolate, and ice cream sectors.
Irca, currently owned by the US-based Advent International, operates a broad manufacturing and distribution network that encompasses 19 facilities and offers more than 7,000 products. This extensive portfolio caters to clients across over 100 countries.
Headquartered near Milan, Irca specializes in providing ingredient solutions to B2B food manufacturers. Its diverse clientele spans various channels, including artisanal bakeries and gelato shops, as well as multinational operators.
Since Advent’s acquisition, Irca has seen remarkable growth, with its revenue soaring from €370 million in 2021 to a substantial €1.5 billion today.
Massimo Garavaglia, CEO of Irca, remarked, “Over the past years, Irca has strengthened its international platform and broadened its capabilities, and today we are in a great position to continue to expand into new markets and segments.” He expressed optimism about collaborating with CVC to further invest in the company and embark on its next growth phase.
CVC, upon finalizing the deal, has indicated that it will closely partner with Irca’s management team to facilitate this “next phase of growth,” concentrating on enhancing operational efficiency, pursuing selective acquisitions, and promoting continued international expansion.
Giampiero Mazza, managing partner at CVC, noted, “Irca combines a strong market position, a resilient business model, and significant opportunities for further international expansion.” He emphasized the firm’s commitment to supporting Irca’s ongoing development through initiatives focused on operational excellence, targeted acquisitions, and investment in its global footprint.
The acquisition will be finalized pending customary regulatory approvals, with an anticipated closing date in the fourth quarter of 2026.