Carlyle kicks off $1.1 bln sale of Italian food ingredients maker Irca – sources

MILAN, March 17 (Reuters) – U.S. private fairness firm Carlyle Group (CG.O) has asked traders to post bids for Irca in a deal valuing the Italian foodstuff components maker at extra than 1 billion euros ($1.1 billion), two resources shut to the make a difference said.

Carlyle, which owns 97% of the team based mostly north west of Milan, has sent out preliminary teasers to investors and expects non-binding bids to arrive in the first 50 percent of April, the sources mentioned.

Both of those Carlyle and Irca declined to remark.

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BNP Paribas and Rothschild are advising Carlyle on the sale, which a single of the resources stated should really near by the close of June.

Irca, which manufactures components for the foodstuff sector together with for pastry-generating, baking and ice-product retailing, is expected to command a double-digit a number of to main earnings, one of the sources claimed.

Irca’s revenues in 2021 topped 365 thousands and thousands euros, Main Govt Officer Paolo Perego told Reuters.

In 2017, Carlyle purchased an 80% stake in Irca from European non-public fairness fund Ardian and from the firm’s founding family Nobili.
($1 = .9019 euros)

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Reporting by Valentina Za and Stephen Jewkes Added reporting and producing by Francesco Zecchini
Enhancing by Keith Weir

Our Specifications: The Thomson Reuters Have faith in Ideas.

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