For a category $\mathbf{C}$ with finite products, denote by $\mathbf{C}_{\text{Grp}}$ the category of group objects in $\mathbf{C}$.
Using the fact that $G\in \operatorname{Obj}(\mathbf{C})$ is a group object iff $\operatorname{Mor}_{\mathbf{C}}(C,G)$ is a group (equipped with the induced maps) for all $C\in \operatorname{Obj}(\mathbf{C})$ it should follow that $\mathbf{C}_{\text{Grp}}$ has products because $\operatorname{Mor}_{\mathbf{C}}(\cdot ,G)\times \operatorname{Mor}_{\mathbf{C}}(\cdot ,G)=\operatorname{Mor}_{\mathbf{C}}(\cdot ,G\times H)$.
This argument of course fails if one replaces "product" with "coproduct". Indeed, taking $\mathbf{C}$ to be the category of finite sets, it seems that in general we should not expect the category of group objects to possess coproducts. This then yields the question: what are sufficient conditions on $\mathbf{C}$ to guarantee that $\mathbf{C}_{\text{Grp}}$ has coproducts? What about all (small) colimtis? To what extent does this generalize to the category of models of an algebraic theory in a category?
The following is due to Linton [Coequalizers in categories of algebras]:
Basically, the idea is that the coproduct of $\mathbb{T}$-algebras is presented by the "coproduct" of the presentations – this is why we need coequalisers.
In order to apply Linton's theorem to your problem, we need to answer two questions:
For the first question, one notes that all the conditions of Beck's monadicity theorem are automatically satisfied except perhaps for the existence of the left adjoint – so one hopes to apply a suitable adjoint functor theorem. The second question is significantly harder. A sufficient condition is that $\mathcal{C}$ be a locally presentable category and the monad be accessible. Or, if $\mathcal{C}$ is cartesian closed, then one can prove by hand that the forgetful functor creates coequalisers of reflexive pairs.