Ilera specializes in ingredients and semi-finished products for the pastry, bakery, chocolate, and ice cream sectors.

The private equity firm CVC Capital Partners has agreed to acquire the food ingredients company Ilera from the private equity group Advent International.

Amsterdam-listed CVC stated it will support Ilera in entering its next phase of business growth. According to CVC, under Advent's operational stewardship, Ilera's revenue increased from €370 million in 2021 to €1.5 billion (equivalent to $1.71 billion).

Ilera manufactures a wide range of ingredients and semi-finished products for the pastry, baking, chocolate, and ice cream markets. The company offers over 7,000 products and serves customers in more than 100 countries worldwide.

The transaction is expected to be completed in the fourth quarter of this year.

At the end of May, CVC finalized a deal to acquire the food ingredients business of International Flavors & Fragrances (IFF), a segment valued at $4.3 billion including debt. On the day of the announcement, IFF's stock price rose by 1.69%.