Caiba acquires Pramix
Caiba, headquartered in Valencia, Spain, a leading company in the country’s plastic packaging sector and a specialist in the design and manufacture of PET preforms and packaging, has acquired Pramix, a Toledo family company, specialising in the manufacture of plastic containers, primarily for the food, home and personal hygiene sectors.
Caiba, which is now majority-owned by Spanish private equity company Nazca Capital, designs, manufactures and markets both preforms and packaging for the main consumer sectors. It has more than 800 clients, including leading companies in the food, beverage and personal and household hygiene sectors. It has around 200 employees and 45,000m2 of production facilities, located in Valencia and in Jaén, in the world’s leading olive oil production region. Its installed capacity in Spain extends to 59 injection, blow or injection-blow moulding machines. In 2019 it manufactured more than 1.4 billion units.
Caiba acquired Pramix as part of its strategy to consolidate its national growth by investment in growing its client portfolio, the development and introduction of new materials, products and formats, and entry into new market segments.
Pramix has a solid client portfolio made up of leading companies in its markets in Spain with which it has long-term relationships. It has developed an extensive product catalogue and has built a reputation for its ability to adapt to its customers in terms of mould design and service quality. Its factory and warehouse premises in Las Ventas de Retamosa, Toledo, house more than 14 extrusion lines and more than 40 employees. In 2019, Pramix reported sales of 6 million euros, an increase of 10% over 2018.
Caiba said that its acquisition of Pramix extends its product range into PP and HDPE containers, targeted at food, cosmetics, personal hygiene and household products sectors, helping to deliver its strategy of product, sector and market diversification.
Uría and Menéndez and BDO advised Caiba in this acquisition.
Nazca is a private equity fund management company specialising in the Spanish middle market. Since 2001, it has accumulated and invested approaching €1 billion.
