CVC Capital builds out ingredients portfolio with Irca acquisition

The deal for the Italian dessert ingredients supplier comes about a month after the private equity firm purchased IFF's ingredients business for $4.3 billion.

What happened

Private equity firm CVC Capital Partners said it would acquire dessert and bakery ingredients supplier Irca from owner Advent for an undisclosed amount.

The deal for the Italy-based ingredients maker is set to close in the fourth quarter of this year, with CVC saying it plans to support Irca's growth ambitions across the U.S. and Europe.

Why it matters

This is CVC's second deal for an ingredients supplier in the past month. The private equity firm announced at the end of May it would buy IFF's ingredients business for $4.3 billion.

The purchase of Irca, along with its recent acquisition of IFF's food ingredients business, immediately positions CVC as a formidable player in the ingredients sector that can serve a wide variety of customers. IFF gives the private equity firm a presence in specialty and clean-label ingredients, while Irca allows CVC to play in indulgence and desserts.

Under Advent's ownership, Irca has increased revenue from 370 million euros in 2021 to 1.5 billion euros, or $1.7 billion, today. Irca produces ingredients and semi-finished products for the pastry, bakery, chocolate and ice cream markets around the world, serving customers in over 100 countries and operating a global manufacturing network of 19 facilities.

This news brief is based on reporting published by Food Dive on 2026-06-30. The original report is linked below.