P&G Buys Argentine Soap Company
CINCINNATI (AP) _ Procter & Gamble Co. said Wednesday it paid $37.9 million for a 94 percent stake in Argentine laundry detergent and soap maker Alejandro Llauro & Hijos. Procter & Gamble made public the price in a statement submitted to the Buenos Aires Stock Exchange.
Alejandro Llauro makes laundry detergent and bar soap under the brand names Duplex, Limol, Viasil and Campos Verde. The Buenos Aires-based company had sales of $57.3 million for the fiscal year ended June 30, 1993.
Cincinnati-based P&G first established a presence in Argentina in 1990 by buying American Cyanamid’s Shulton Group, which distributes Old Spice products there.
P&G also sells disposable diapers, feminine pads and shampoo in Argentina, and bought dishwashing soap maker Compania Quimica last year.