Advent International, one of the largest global private equity investors, today announced the acquisition of Irca, an Italian company engaged in the production of specialized ingredients for pastry, bakery and ice cream from the global investment firm Carlyle. The transaction is expected to close in the third quarter of 2022.

For over 100 years the company has provided professional B2B channels (pastry shops, ice cream shops, hotels, restaurants and industrial companies) with a complete portfolio of products, including creams, chocolates and decorations, preparations for cakes and leavened products, ice cream bases, variegated and gaskets. It is headquartered in Gallarate (Varese), employs over 1,000 people, and supports chefs in over 100 countries through seven production facilities and four development and innovation laboratories in Europe, North America and Asia.