The EC authorised a shared-control arrangement putting Spanish packaging groups Caiba and Nosoplas together under Portobello Capital Fondo IV, Cobega and Sonab; the combined business will operate across PET preforms, containers and recycled PET resin in Spain and parts of the EEA.
The European Commission authorised the concentration, concluding it raises no competition concerns and has limited impact on relevant markets.
Portobello Capital Fondo IV, Cobega and Sonab will exercise joint control of the combined entity.
The merged business will span PET preforms, PET containers and recycled PET (rPET) resin, consolidating packaging manufacturing with recycled material supply in Spain.
Who will own and control the combined company
Under the approved structure, three parties will exercise joint control: Portobello Capital Fondo IV, Cobega and Sonab. Portobello is an investment fund with holdings across multiple sectors. Cobega is the parent group active in Coca‑Cola bottling and beverage distribution in Spain. Sonab is an investment and property holding company.
The new entity will operate across three linked areas:
Bringing Caiba and Nosoplas together creates a company that combines packaging manufacturing (preforms and containers) with recycled material supply (rPET) within Spain.
The EC examined the case under the EU's standard merger review framework. It formally received the notification of the proposed concentration on 27 July 2026. After assessment, the Commission concluded the transaction would not raise competition concerns, citing the limited effect on competition in the relevant markets.
Implications for the Spanish packaging supply chain
The combination links PET packaging production and recycled resin supply within the same corporate structure. That aligns the manufacturing of preforms and containers with an internal source of rPET resin, concentrated primarily in Spain. The EC decision means the parties can proceed under the shared‑control arrangement specified.
The announcement focuses on the EC's clearance, the ownership structure, the product areas covered and the firms' geographic footprints. The public statement does not include operational details such as plant locations, staff impacts, post‑transaction governance arrangements, or commercial plans for markets outside Spain.
Capital Fondo IV, Cobega and Sonab, creating a company that unites PET preform and container production with rPET resin manufacturing, primarily serving the Spanish market with some EEA activity.
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