Prior notification of a concentration (Case M.10755 – ADVENT / IRCA) Candidate case for simplified procedure (Text with EEA relevance) 2022/C 240/07
Date: 2022-06-22
Institutions: Directorate-General for Competition, European Commission
Subjects: Italy, United States, bakery, confectionery product, dairy ice cream, economic concentration, food additive, investment company, merger control, semi-manufactured goods








C_2022240EN.01002001.xml










22.6.2022   


EN


Official Journal of the European Union


C 240/20






Prior notification of a concentration
(Case M.10755 – ADVENT / IRCA)
Candidate case for simplified procedure
(Text with EEA relevance)
(2022/C 240/07)

1.   
On 13 June 2022, the Commission received notification of a proposed concentration pursuant to Article 4 of Council Regulation (EC) No 139/2004 (1).
This notification concerns the following undertakings:






—


AI Tiramisù S.r.l. (‘Bidco’, Italy), controlled by Advent International Corporation (‘Advent’,USA),










—


IRCA S.p.A. (‘IRCA’, Italy), controlled by The Carlyle Group (USA).




Advent will acquire within the meaning of Article 3(1)(b) of the Merger Regulation, sole control of the whole of IRCA.
The concentration is accomplished by way of purchase of shares.


2.   
The business activities of the undertakings concerned are the following:






—


Advent, is an international private equity investor, based in Boston USA, active in the acquisition of equity stakes and the management of investment funds in various sectors, including healthcare, industrial, technology, retail, consumer and leisure and business and financial services. One of its portfolio companies is Caldic, a distributor of functional ingredients and specialty chemicals active in Europe, North America and Asia-Pacific,










—


IRCA is a food ingredient company based in Italy active in the production and sale of semi-finished ingredients for chocolate, bakery (pastry and bread), and gelato. It is mainly active in Italy and to a more limited extend across the EEA and globally.






3.   
On preliminary examination, the Commission finds that the notified transaction could fall within the scope of the Merger Regulation. However, the final decision on this point is reserved.
Pursuant to the Commission Notice on a simplified procedure for treatment of certain concentrations under Council Regulation (EC) No 139/2004 (2) it should be noted that this case is a candidate for treatment under the procedure set out in the Notice.


4.   
The Commission invites interested third parties to submit their possible observations on the proposed operation to the Commission.
Observations must reach the Commission no later than 10 days following the date of this publication. The following reference should always be specified:
M.10755 – ADVENT / IRCA
Observations can be sent to the Commission by email, by fax, or by post. Please use the contact details below:
Email: COMP-MERGER-REGISTRY@ec.europa.eu
Fax +32 22964301
Postal address:





European Commission




Directorate-General for Competition




Merger Registry




1049 Bruxelles/Brussel




BELGIQUE/BELGIË







(1)  OJ L 24, 29.1.2004, p. 1 (the ‘Merger Regulation’).

(2)  OJ C 366, 14.12.2013, p. 5.