Procaps Group Acquires Grupo Somar

Procaps Group, an integrated healthcare and pharma company based in Barranquilla, Columbia who earlier this year purchased a softgel production facility, has entered into a definitive agreement to acquire Grupo Somar (including Grupo Farmacéutico Somar and Química y Farmacia, and, Gelcaps and related entities) from Advent International, a private equity investor. The deal is for an undisclosed amount but is expected to close in Q4 of 2022.

The acquired business is an integrated pharma company whose efforts revolve around developing, manufacturing, and marketing high-quality branded generic, private label, and OTC products targeted to the private market; the company also provides contract development and manufacturing organization (CDMO) services in Mexico. According to Procaps, Grupo Somar has strong R&D and manufacturing capabilities, with six modern production facilities (two that manufacture softgel capsules) in Mexico, including three FDA-approved plants with the ability to export to the US.

“Grupo Somar represents a significant step forward for our regional consolidation strategy, expanding our reach in Mexico, which we anticipate will represent approximately 30% of the total revenues of the companies’ combined, with the expectation to grow even more,” says Alejandro Weinstein, chairman of Procaps' M&A committee.