Staff Reporters
Sep 4, 2020

Kimberly-Clark to buy Softex Indonesia for US$1.3 billion

The purchase of the maker of diapers and other personal-care products will give the FMCG giant a footprint in a market where it has a "currently limited position".

Sweety is one of Softex's successful diaper brands.
Sweety is one of Softex's successful diaper brands.

Kimberly-Clark Corporation announced it will acquire Softex Indonesia in an all-cash transaction for approximately $1.2 billion

Softex Indonesia generated net sales of approximately $420 million in 2019. About 80% of that comes from diapers, including the Sweety and Happy Nappy brands, according to the companies. The rest of its sales comes mainly from the feminine hygiene and adult-care categories, including the Softex and Confidence brands.

The acquisition "immediately improves Kimberly-Clark's currently limited position" in large, growing market with attractive future prospects, the company said in a release. 

"Softex Indonesia has a strong, growing and profitable business with a portfolio of brands loved by Indonesian consumers," Aaron Powell, president of Kimberly-Clark's Asia-Pacific consumer business, said in a release. "This acquisition provides an opportunity for Kimberly-Clark to accelerate our growth in Southeast Asia, and we look forward to combining our strengths in innovation and brand building to expand on Softex Indonesia's continued success."

The transaction is expected to close early in the fourth quarter.
Source:
Campaign Asia

Related Articles

Just Published

17 hours ago

Agency Report Cards 2024: We grade 25 APAC networks

The grades are in for Campaign Asia's 22nd annual evaluation of APAC agency networks. Subscribe to read our detailed analyses.

18 hours ago

Agency Report Card 2024: Havas Creative

Havas's post-split independence will be on trial. Can its ‘Converged’ strategy deliver business growth, and can its leaders address the internal diversity issues?

19 hours ago

PHD wins Bunnings media mandate after competitive pitch

PHD clinches Bunnings’ $50 million media account from Initiative in a fiercely contested multi-agency pitch.

19 hours ago

Marketing budgets hold at 7.7% in 2025: Gartner CMO ...

Gartner's 2025 CMO Spend Survey finds average marketing budgets are at 7.7% of company revenue for a second consecutive year. However, half of CMOs reported budgets of 6% or less.