You bet some did. For all the talk of evil Nazi's hiding out in Argentina (some did), a good number of Germans and Italians went there to start a new life and escape war ravaged Europe. Remember, the Soviets gobbled up 40% of Germany into their own sphere, and that was reason enough to flee.
I found a quaint village just south of Cordoba that has a unique and interesting story - Villa General Belgrano. This town was founded in the 1930s by a handful of German and Austrians, but was really established by 130 surviving crew of the Pocket Battleship Admiral Graf Spee.
The Graf Spee, for those unfamiliar, was a 16,000 ton cruiser sized ship with big guns and great speed built as a commerce raider. Same class as the Bismarck. In 1940, they got into a shoot out with the Brits in the Atlantic, sustained some damage, and took refuge in the port of Montevideo, Uruguay for repairs. Sufficient repairs could not be completed within the 72 hours allowed by international law in a neutral port, so the Captain took her out of port and scuttled her in the Plate River Estuary. The crew were interred in Uruguay, and 130 of them moved to Belgrano after the war.
When I visited Belgrano last week, I found a town in the hills by a lake that could have been in Bavaria. Maybe it's a bit touristy with the shops, but the architecture, the food, the beer all excellent and all German.
Best restaurant in town is called Veijo Munich - Old Munich and they brew their own beer.
It is a bit odd to see German influenced homes and buildings with Spanish signs in front of them. Many of the older generation still speaks German there, although it is fading rapidly. Still, they have the world's 3rd largest Ocktoberfest in this little village of maybe 10,000.
Argentina is a beautiful and fascinating country. Bird hunter's paradise along with Red Stag hunting and trout fishing make it one of my favorite places these days. If they only had a government that worked, that place would boom. Maybe I'll post more on that later.