Mumbai-based Godrej Consumer Products Ltd said it has entered an agreement to acquire a 100% stake in Laboratoria Cuenca, Consell SA, Issue Uruguay and Issue Brazil (collectively referred to as ‘Issue Group’). No price details were provided.
Godrej Consumer Products Ltd is a major player in the Indian FMCG market with leadership in the hair colour, household insecticides and fabric care categories. The Issue brand enjoys volume leadership in Argentina with a market share in excess of 20%. The business had revenues of over $33 million in 2009.
Godrej Consumer Products ended 2.62% down at Rs312.20 on the Bombay Stock Exchange, while the benchmark Sensex closed 0.15% up at 16,469.55 points.
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