CVC Capital Partners – IRCA Group

WA-35037

CVC Capital Partners plc (**CVC plc**, and together with its affiliates and its subsidiaries, the **CVC Network**), through Ibert Investments S.à.r.l (the **Purchaser**), entered into a share purchase agreement (**SPA**) with IRCA Group Luxembourg MidCo 3 S.à.r.l. for the acquisition of 100% of the shares in IRCA Group Luxembourg MidCo 4 S.à.r.l. (together with is direct and indirect subsidiaries the **IRCA Group**) (the **Acquisition**). The Purchaser is indirectly controlled by funds or vehicles advised and/or managed by affiliates of CVC plc. The CVC Network is a global alternative investment manager focused on private equity, credit, infrastructure and secondaries, and includes CVC plc, each of its subsidiaries from time to time, and the CVC Funds (defined below). CVC plc is listed on the Amsterdam Stock Exchange. As it relates to the CVC Network’s private equity activities, CVC plc indirectly, through certain of its subsidiaries from time to time, provides investment advice to and/or manages investments on behalf of certain funds and investment vehicles (the **CVC Funds**). The CVC Network holds interests in a number of companies active in a variety of industries around the world, including in financial services, chemicals, utilities, manufacturing, retailing and distribution, in Europe, the US and the Asia-Pacific region. The IRCA Group is a food ingredients business headquartered in Gallarate, Italy. The IRCA Group is active in the production and distribution of ingredients, semi-finished and finished products for the confectionery, gelato, and bakery industries. In Australia, the IRCA Group sells semi-finished gelato ingredients, industrial chocolate, chocolate decorations and inclusions, compound chocolate, fat-based and water-based coatings and fillings, and semi-finished pistachio products, and distributes food products to food service customers. The IRCA Group has a sales office in Australia but does not produce any ingredients locally and predominately supplies its products through a small number of distributors. The IRCA Group operates through two main business units: (i) Artisanal, serving small bakeries and pastry shops, ice-cream chains and gelato shops, and in-store bakeries of large retail chain stores; and (ii) Industrial, serving large producers of B2C products, including international players in the food industry.