A Paris-based private investment company has acquired a majority stake in European ingredients and base foods provider Irca Group.
Irca’s Roberto Nobili will retain a stake in the company and will remain in charge of leading its development, following the acquisition of shares by Ardian. The investment firm, which operates assets totalling $50bn across Europe, North America and Asia, has declined to confirm the exact stake taken or the value of the transaction.
Irca is a provider of ingredients and base food products for pastry-making, baking and ice cream retailing. With a presence in roughly 70 countries, the group generated a turnover of more than €200m last year, which represented a 12% increase on 2013.
Ardian head of mid-cap buyout Philippe Poletti said: “Irca is an internationally recognised business with a strong position in the food sector. This is thanks to its made in Italy quality. With its consolidated position in the industry, strong research team and product innovation abilities, it has excellent growth potential in an increasingly demanding market. Ardian intends to contribute to the further development of Irca, helping it to strengthen its leading market position at an international level. We will consider added growth opportunities through alternative lines, whilst staying true to the company’s identity and traditions.”
Irca general manager Roberto Nobili added: “Ardian’s investment in Irca marks an important stage in the future development of the company. We are excited to embark on this new partnership together, one that will allow the company to achieve the ambitious goals that it has set for itself, not only in Italy but also at an international level.”
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