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.
"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."