Siuma Capital advises Comfandi on the sale of its pharmacy business to Unidrogas

September 25th, 2026 – Cali, Colombia – Siuma Capital Latin America (“Siuma Capital”) announced that it served as the exclusive financial advisor to the Caja de Compensación Familiar del Valle del Cauca Comfamiliar Andi (“Comfandi”) in the sale of its pharmacy business, Droguerías Comfandi, to Unidrogas S.A.S. (“Unidrogas”). The transaction comprises 97 drugstores located in Cali, Palmira, Tuluá, Buga, Cartago, Jamundí, Yumbo, Buenaventura, Candelaria, Popayán and Pasto. Unidrogas is a Santander-based pharmaceutical retailer and wholesaler with over 40 years of experience and more than 900 points of sale across 24 departments in Colombia.

This transaction marks a significant milestone in Unidrogas’ expansion strategy, extending its footprint into Colombia’s southwestern region. Following the transaction, the acquired drugstores will be rebranded and operate under the Droguería Alemana banner. By integrating the Droguerías Comfandi network, Unidrogas substantially expands its retail platform across Valle del Cauca, Cauca and Nariño and strengthens its position as one of the country’s relevant pharmacy operators. For Comfandi, the transaction allows it to focus its resources on its core mission of providing social welfare services to affiliated workers and their families, while preserving the value built over more than 50 years and ensuring continuity of service for the communities served by the drugstores.

Samuel Urrutia, Managing Director of Siuma Capital, mentioned the following about the deal: “We are proud to have advised Comfandi on this landmark transaction for the Colombian pharmaceutical retail sector. Droguerías Comfandi is a unique asset with an unmatched footprint in the southwest of the country, and Unidrogas is the ideal partner to take it to its next stage of growth. This deal reflects our commitment to delivering outstanding results for our clients in Colombia.”

Along these lines, Tomás Valsecchi, Vice President at Siuma Capital, added: “Executing the sale of a network of 97 drugstores across multiple municipalities required careful coordination between Comfandi’s governance bodies, the buyer and the regulator. We are very pleased with the outcome, which maximizes value for Comfandi while guaranteeing continuity of service for the communities it serves.”

The success of this transaction showcases the professionalism, industry expertise and technical competence of the Siuma Capital team, as well as its ability to lead complex M&A processes involving multiple stakeholders and regulatory review by the Superintendencia de Industria y Comercio (SIC).

Christian Arias, Associate at Siuma Capital, added: “It was a privilege to work alongside the Comfandi and Unidrogas teams throughout this process. The combination creates one of the most relevant pharmacy platforms in the region and reinforces Siuma Capital’s track record in the healthcare and retail sectors.”

We would like to extend our gratitude to Comfandi for the trust placed in Siuma Capital to lead this important transaction.

About Droguerías Comfandi: Droguerías Comfandi is the pharmacy network of the Caja de Compensación Familiar del Valle del Cauca Comfamiliar Andi. Headquartered in Cali, Comfandi is a non-profit organization supervised by the Superintendencia del Subsidio Familiar that provides health, education, recreation, housing and retail services to affiliated workers and their families. With 97 locations, the Droguerías Comfandi network offers pharmaceuticals, dermocosmetics, personal care and baby products across Valle del Cauca, Cauca and Nariño.

About Unidrogas: Unidrogas is a Colombian company in the pharmaceutical sector engaged in the retail and wholesale distribution of pharmaceutical, medicinal, cosmetic and personal care products. Headquartered in Santander and with over 40 years of experience, the company has more than 900 points of sale across 24 departments and 157 municipalities in Colombia, supported by seven distribution centers and a portfolio of over 15,000 products. Its brands include Droguería Alemana, Droguería Inglesa, Droguería Andina and La Botica. The company continues to expand its national footprint through organic growth and strategic acquisitions.