Irca buys the Sweet Ingredients division from Kerry
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The Irca Group, international leader in the chocolate industry, announces that it is in exclusive negotiation for the acquisition of the Sweet Ingredients division of the Kerry group, for a consideration of 500 million euro. The transaction is expected to close in the first half of 2023. Kerry will reinvest the proceeds of the transaction in the strategic development of its Taste & Nutrition business.
Turnover of one billion
According to a statement, the combination of Irca and Kerry’s Sweet Ingredients division will create a global leader in the high-quality ingredients sector with sales close to one billion euros, a global manufacturing footprint and a significant presence in the United States. United.
High quality ingredients
“At the same time – reads the press release – the operation will strengthen IRCA’s one-stop-shop offer, consolidating the Group’s leadership and expanding its range of ingredients with high added value”. The operation would be the third carried out by Irca after the acquisition in July 2022 by the private equity fund Advent International after those of Anastasi, the Italian leader in the production of pistachio-based ingredients, and Cesarin, leader in the candied fruit market high quality.
«We are happy to collaborate with Kerry in this operation and we look forward to completing it successfully – says Massimo Garavaglia, CEO of Irca -. The Sweet Ingredients division boasts high-profile production capabilities, differentiating technologies and a talented team, which shares our same passion and desire to offer the highest quality to customers and end consumers, and which we will welcome to our group with great pleasure».
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