Blank-check firm Union Acquisition Corp II to buy LatAm’s Procaps

U.S. blank-check company Union Acquisition Corp II on Wednesday said it will buy Latin American softgel maker Procaps Group for an enterprise value of $1.1 billion, the latest deal in Wall Street’s SPAC acquisition frenzy.

Procaps, founded in 1977 and based in Barranquilla, Colombia, researches how to deliver medicines to patients through different forms, like softgels, chewable medicines, or by coating pills to make them taste more pleasant to patients.