Case details

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Merger control
Case reference
Ccent/2025/38 - Fortitude*Reagro / Iberol*Biovegetal
Acquired
Biovegetal, Combustíveis Biológicos e Vegetais, S.A.
Description
Company that operates in the production of biofuels, essentially producing biodiesel and, residually, glycerin and Free Fatty Acids. Biovegetal uses vegetable oils, used cooking oils and other residues considered “advanced oils” as a source of energy for the production of biodiesel.
Acquiring
Fortitude Capital – Sociedade de Capital de Risco, S.A.
Description
Investment fund management company dedicated to the management of venture capital funds and specialized alternative investment funds, through the acquisition of equity interests in other companies and the management of the acquired assets.
Acquired
Iberol, Sociedade Ibérica de Biocombustíveis e Oleaginosas, S.A.
Description
Company that operates in the production and sale of protein flours for animal feed and in the production and sale of vegetable oils, both products resulting from the crushing of oilseeds.
Acquiring
Reagro – Importação e Exportação, S.A.
Description
Company in the agricultural sector that operates in the wholesale and retail trade of agricultural and livestock raw materials, special materials, additives for animal feed, and in the distribution of supplements and premixes for animal feed, as well as in the manufacture of products for equine feed, and in the collection, drying, storage and distribution of corn.
Sector
Activity (NACE)
Applicable legislation
Notification thresholds
Type of merger
Cooperation with sector regulators
Status
Closed
Type of Investigation
Phase 1
AdC’s decision
Non-opposition
Case description

The merger operation consists of the acquisition, by Fortitude Capital – Sociedade de Capital de Risco, S.A. (“Fortitude”) and by Reagro – Importação e Exportação, S.A. (“Reagro”), of joint control overIberol – Sociedade Ibérica de Biocombustíveis e Oleaginosas, S.A. (“Iberol”) and  Biovegetal – Combustíveis Biológicos Vegetais, S.A. (“Biovegetal”).


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