The global private equity firm will now take on the Italy-based manufacturer, which specialises in producing value-added ingredients and semi-finished products for the pastry, bakery, chocolate and ice cream markets.
Owned by US private equity firm Advent, Irca operates a global manufacturing and distribution platform spanning 19 facilities and more than 7,000 products, serving customers in over 100 countries.
Operating from just outside Milan, the firm is focused on providing B2B ingredient solutions for food manufacturers, serving a broad customer base across artisanal and foodservice channels, ranging from local bakeries and gelato shops to international operators.
The company has experienced significant growth since its acquisition by Advent, with revenue increasing from €370 million in 2021 to €1.5 billion today.
Also read → US private equity firm buys leading UK ingredients manufacturer
Massimo Garavaglia, chief executive 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.”
CVC says that upon completion of the transaction, it will work closely with Irca’s management team to support its “next phase of growth”, focusing on operational excellence, selected add-on acquisitions and continued international expansion.
Giampiero Mazza, managing partner at CVC, added: “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.”
The transaction is subject to customary regulatory approvals and is expected to close in Q4 2026.
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