June 30, 2022

MILAN, March 17 (Reuters) – U.S. private fairness group Carlyle Group (CG.O) has requested traders to submit bids for Irca in a provide valuing the Italian meals components maker at excess of 1 billion euros ($1.1 billion), two sources close to to the make a distinction stated.

Carlyle, which owns 97% of the group dependent north west of Milan, has despatched out preliminary teasers to merchants and expects non-binding bids to seem within the to begin with fifty % of April, the sources reported.

Each equally Carlyle and Irca declined to remark.

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BNP Paribas and Rothschild are advising Carlyle on the sale, which 1 of the sources claimed should shut by the top of June.

Irca, which manufactures parts for the foodstuff market which embrace for pastry-earning, baking and ice-product retailing, is predicted to command a double-digit a number of to important earnings, one of many sources claimed.

Irca’s revenues in 2021 topped 365 a whole lot of 1000’s euros, Primary Govt Officer Paolo Perego knowledgeable Reuters.

In 2017, Carlyle acquired an 80% stake in Irca from European private equity fund Ardian and from the corporate’s founding kinfolk Nobili.
($1 = .9019 euros)

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Reporting by Valentina Za and Stephen Jewkes Extra reporting and producing by Francesco Zecchini
Modifying by Keith Weir

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