India's leading consumer durable company, Godrej Consumer Products (GCPL) is planning to purchase a Brazilian hair care firm Embelleze. Embelleze is the market leader in hair color segment in Brazil. The company has a commanding market share in the hair color market and has almost 25% of the market under its belt. The company is estimating to manage to get annual sales of Rs. 1000 crore in the current fiscal.

It has three of top selling brands under its umbrella. Godrej, on the other hand has already acquired companies in Europe, Africa and South East Asia. Now it is looking forward to expand its business some of the new territories like Latin America.

Experts believe that such acquisition will undoubtedly help Godrej to increase its bottom line with some new range of products. But Godrej has declined to comment on the buyout targets for this Brazilian firm.

Vice Chairman of Godrej Consumer Products has informed that his company is desperate to enter the hair color sector and is ready to join hands with any firm from all across the globe.