Godrej Consumer Products Ltd (GCPL) has informed that it has purchased the Argentine Inc. Argencos. Argencos is another hair care company of Argentina. It is the company's second take over in less than two weeks in Latin America.

Godrej has been a leading FMCG firm in the country which registered decent turnover at a comparatively low cost from its wide range of products.

And Argencos is considered as a major in the FMCG sector in Argentina. The company had declared that in coming weeks it is going to purchase 100% stake of another market leader in Latin America's Issue Group.

However, Argencos deals in hair color business in Argentina, Peru, Uruguay and Paraguay. It is expected that the combination of these two Argentine companies will fetch out better consequences.

The expected revenue from this buy out is over $ 45 million. According to the GCPL's Chairman Adi Godrej, Argencos is a perfect combination for GCPL. He has said that it is a complementary add on for the Issue Group's earlier acquisition. The two companies are planning to strengthen their business in Latin America.