• 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


  • 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


  • 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