Founded in 1955, Caiba is the leading manufacturer of value-added PET preforms and containers for food and household products in Spain, and is the market leader in the olive oil sector. Caiba has been backed by Nazca since 2016
Caiba currently has three state-of-the-art manufacturing plants in Valencia, Jaén and Toledo with 260 employees. Additionally, it has 28 in-house lines, mostly located in south-eastern Spain
In 2020, Caiba achieved sales of €90m
Process
DC Advisory (DC), led by César García, was engaged by Nazca and the founding family to provide sell-side M&A advice to support the sale of a majority stake in Caiba
DC worked closely with shareholders to prepare a restricted auction process addressing both trade and financial investors
DC engaged with market leaders in the packaging industry and leading financial sponsors worldwide to generate a focused competitive process
DC provided comprehensive financial and strategic advice including: process strategy and tactics; due diligence coordination; deal structuring, financial modelling and valuation, and support in negotiations and transaction documentation
Outcome
Under the agreement, Portobello has acquired a majority stake in Caiba
DC ensured all work streams were successfully completed in a timely manner
DC's extensive experience in packaging, and senior involvement were key to the success of the transaction and further demonstrates DC’s expertise in the Industrial sector
This transaction will seek to reinforce Caiba’s organic and inorganic international growth prospects
