(Grupo Procaps) The Procaps Group (NASDAQ: PROC) (“Procaps”), an integrated Latin American health and pharmaceutical conglomerate, announced today that it has entered into a definitive agreement to acquire the Somar Group (including Grupo Farmacéutico Somar e Química y Farmacia e, Gelcaps e related entities) from Advent International (“Advent”), one of the world’s two largest private equity investors.
The Somar Group is an integrated pharmaceutical company focused on the development, manufacturing and marketing of generic, proprietary and high-quality branded OTC products aimed at the private market and offering CDMO services in key market segments in Mexico. The Somar Group offers a diversified portfolio of products in the main categories and has strong R&D and manufacturing capabilities, operating six modern production facilities (two of which manufacture Softgel capsules) in Mexico, including three FDA-approved plants with the ability to export to you. USA.
With a highly experienced management team that has driven strong operational and financial performance in recent years, Grupo Somar is well positioned to capitalize on the positive momentum in the Mexican market and sustain consistent growth in its different lines of business. The Somar Group generated approximately US$184 million in liquid revenue (on an expected combined basis).