Ardian takes majority stake in Irca

Ardian, a pan-European private equity firm, acquired a majority controlling stake in Irca, a prominent family-owned Italian manufacturer of bakery and pastry ingredients. The transaction was executed through Ardian's Mid Cap Buyout fund, Axa Lbo Fund V. The deal structure also involved the acquisition and subsequent merger of two smaller entities controlled by the founding Nobili family, Italcima srl and D&D Service srl, to create a consolidated group. The Nobili family, who founded the company in 1919, opted to divest the majority of their holdings, with Roberto Nobili, a son of the patriarch, retaining a minority interest to ensure continuity and participate in the company's future growth. The primary rationale for the acquisition was to accelerate Irca's expansion strategy. Ardian plans to leverage its resources and international network to support the company's organic growth, particularly in foreign markets where it already has a strong presence. Furthermore, a key pillar of the strategy involves pursuing synergistic bolt-on acquisitions and consolidating the fragmented food ingredients market, both in Italy and abroad. The transaction was subject to customary closing conditions, including approvals from relevant European antitrust authorities.

The acquisition of Irca is part of the growth strategy of Ardian, which already has several external growth operations under its belt, notably Siaci Saint-Honore in 2015.