Following up on its recent announcement of the acquisition of the Issue Group, Mumbai-headquartered Godrej Consumer Products announced that it has entered into an agreement to acquire 100% stake in Argencos, a mid-sized Argentine hair care company.
Argencos is the number one hair styling spray company in Argentina and has strong mid-priced brands in the hair colour segment. Argencos’ hair colour portfolio complements the Issue portfolio very well. While the Issue Group has a strong presence in the mass category, Argencos focuses on the mid-premium segment.
The combined sales of Godrej’s two recent Argentine acquisitions would be over 45 million US dollars.