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Kimberly-Clark says that Softex acquisition is a ‘very important deal’

Softex Indonesia acquisition is a “bold move to help us drive growth in developing and emerging markets,” says Aaron Powell, president of Kimberly-Clark’s Asia-Pacific consumer business

In Sep. 2020, Kimberly-Clark Corporation announced that it has entered into a definitive agreement to acquire Softex Indonesia, a leader in the fast-growing Indonesian personal care market, in an all-cash transaction for approximately $1.2 billion from a group of shareholders including CVC Capital Partners Asia Pacific IV.

In a recent interview with CNBC, Aaron Powel, president of consumer business at Kimberly-Clark’s Asia-Pacific, said it was a very important purchase for the company, the largest deal since 1996.

Kimberly-Clark’s primary focuses are on the ability of accelerate growth and developing emerging markets. Indonesia is a very attractive market, the 6th largest diaper market in the world and one of the fastest growing.

According to Powel, Softex is a tremendous set of capabilities with a strong team, strong supply chain and strong brands. “This is one of those rare acquisitions that fits perfectly from a strategy standpoint and as a very strong asset”.

Indonesia is a large, growing market with attractive future prospects, and the Softex acquisition immediately improves Kimberly-Clark’s currently limited position in the country to one with strong market share in key personal care categories across Southeast Asia’s largest economy. “Softex can be a platform to help us better access some markets [in Asia] beyond just Indonesia”.

“Bottom line we are very excited about how this will help us to drive growth in the future” finishes him.

You can watch the full interview here.

Source
CNBC
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