CVC Capital Partners (“CVC”) and Advent today announced that CVC Capital Partners IX (“Fund IX”), has entered into an agreement to acquire Irca, a global B2B manufacturer of ingredient solutions for the food manufacturing, foodservice and artisanal channels, from Advent.
Irca produces value-added ingredients and semi-finished products for the pastry, bakery, chocolate and ice cream markets. The company operates a global manufacturing and distribution platform spanning 19 facilities and more than 7,000 products, serving customers in over 100 countries. Irca serves a broad customer base across artisanal, foodservice and food manufacturing channels, ranging from local bakeries and gelato shops to international foodservice operators and multinational food manufacturers.
Since Advent’s investment, IRCA has transformed into a global ingredients leader, increasing revenue from €370 million in 2021 to €1.5 billion today. The company is widely recognized by customers for its comprehensive product portfolio, strong innovation capabilities, and deeply customer-centric culture.
Following completion of the transaction, CVC will work closely with Irca’s management team to support the company’s next phase of growth, focusing on operational excellence across manufacturing and supply chain, selected add-on acquisitions, and continued international expansion. CVC will also support the acceleration of Irca’s growth ambitions across the US and EMEA, leveraging the expertise and network of its European and US teams.
Massimo Garavaglia, CEO of Irca, said: “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. We look forward to working with CVC as we continue to invest in our business and pursue the next phase of growth for the company”
Giampiero Mazza, Managing Partner at CVC, said: “Irca combines a strong market position, a resilient business model and significant opportunities for further international expansion. Working alongside management, we will support the company’s continued development through operational excellence initiatives, selective acquisitions and investment in its global platform.”
