Milan, 12 September 2022 – As part of Advent International’s investment strategy in the food ingredients sector, portfolio company IRCA has signed an agreement to acquire the Anastasi Group from the Anastasi family. The Anastasi family will continue to lead the company and will become an important investor in the combined Group.
Terms of the transaction were not disclosed.
Established in 1972 and headquartered in Bronte (Sicily, Italy), the Anastasi Group is a leading Italian food ingredients company specialized in the manufacturing of semi-finished pistachio-based products. Under the leadership of Andrea, Antonio and the whole Anastasi family, the Company has achieved impressive growth in recent years, becoming the European leader in pistachio ingredients. Anastasi’s success is rooted in its attention to quality and customisation of pistachio-based products, and deep technological expertise developed over more than 50 years of experience in the sector.
Today Anastasi is present in over 30 countries globally with a product offering featuring shelled pistachio, peeled pistachio, diced pistachio, pistachio powder, and pistachio paste, all representing the pinnacle of Italian excellence in ingredients.
Anastasi’s products are highly complementary to the IRCA portfolio. The combination further strengthens IRCA’s one-stop-shop proposition, reinforcing the Group’s leadership and expanding its broad assortment of high value-added ingredients.
Andrea Anastasi, CEO of Anastasi Group, comments:
“Thanks to the support of Advent International, one of the largest and most experienced private equity investors in the world, we will develop our projects with an increasingly international vision, and through the integration in the IRCA Group we will implement significant industrial synergies. We are very proud to be part of this Group. I’m excited to continue leading Anastasi, broadening the horizons of the company, and working with partners of the highest level to strengthen our position worldwide.”
Massimo Garavaglia, CEO of IRCA, comments:
“We are proud to partner with Anastasi and welcome them to our Group. We see strong potential in the pistachio ingredients market. Anastasi’s quality, know-how and professionalism are unique in the market. Anastasi significantly strengthens the existing IRCA portfolio, and positions us strongly in a rapidly growing segment of the market.”
Francesco Casiraghi, Managing Director at Advent International, comments:
“We are thrilled to welcome Anastasi to the IRCA Group. We have long admired the passionate work the Anastasi family has carried out over the years, leading the company to become the European leader in pistachio-based ingredients. The acquisition of Anastasi represents an important step in our strategy to develop an international platform in the food ingredients sector”.
The transaction is expected to close in Q4 2022.
IRCA is an international leader in chocolate, creams, and high-quality ingredients that for over 100 years has been supplying the professional channels across the world. The Group distributes its products across more than 100 countries and runs 13 production facilities in Italy, United States, Belgium, and Vietnam. Over 1,000 employees contribute every year to launching innovative products tailored to the latest industry trends, supplying a wide range of unique solutions to customers globally.
Anastasi is a leading Italian B2B provider of semi-finished pistachio-based products. The Company operates four state-of-the-art manufacturing plants all located in Bronte (Sicily), each dedicated to a specific phase of production (shelling, dicing, peeling, and paste production). Anastasi’s leadership position relies on granting high quality standards and operational reliability with a unique level of flexibility and customization, which allowed the Company to build strong and long-lasting relationships with high profile customers. The Anastasi offering includes shelled pistachio, peeled pistachio, diced pistachio, pistachio powder, and pistachio paste, with an exceptional variety of use cases including gelato bases, pastry bases and fillings, toppings, biscuits, chocolate, nougats, garnish, pastry decorations, snack bars, pesto, cured meats, and many others.
About Advent International
Founded in 1984, Advent International is one of the largest and most experienced global private equity investors. The firm has completed over 395 private equity investments across 41 countries and has €69 billion in assets under management. Advent is currently investing out of its $25 billion GPE X fund, raised in 2022. Advent has a strong global presence with offices across North America, Europe, Latin America and Asia, and a global network of over 270 investment professionals and sector experts. Advent's investment philosophy is based on value creation through an active management strategy based on consensus and sharing. For more information, visit Advent's global website, www.adventinternational.com, Advent Tech website, www.adventtech.com, or LinkedIn page, www.linkedin.com/company/advent-international.