Which private equity firms are confirmed to have submitted preliminary bids for IRCA, and what is the reported valuation range for the potential sale?

According to the news, private equity firms CVC and Cinven are 'among initial bidders' for IRCA, and a third source confirmed that PAI Partners also placed a bid. Preliminary bids were filed last week, and the sale is estimated to fetch between 2.5 billion and 3 billion euros ($2.7 billion–$3.2 billion).

What is IRCA’s business focus, global footprint, and ownership history leading up to this sale process?

IRCA, founded in 1919, supplies chocolate, creams, and other semi-finished food ingredients to professional customers worldwide—especially in the pastry and ice-cream sectors. It employs over 2,200 people and operates 19 production facilities across Europe, the United States, and Vietnam, serving customers in more than 100 countries. Advent acquired IRCA in 2022 from Carlyle in a deal valuing the group at around 1 billion euros.

CVC, Cinven among bidders for Italian dessert ingredients maker IRCA, say sources

Jun 1, 2026

Private equity firms CVC, Cinven, and PAI Partners are bidding for Italian dessert ingredients maker IRCA in a deal potentially valued between €2.5 billion and €3 billion. The transaction highlights investor interest in resilient consumer-focused businesses amid current market volatility.

reuters

2026-06-01

CVC, Cinven among bidders for Italian dessert ingredients maker IRCA, say sources

FAQ

Scan to get the App