Kimberly-Clark, a personal care product company, has agreed to acquire the Indonesia based Softex, which derives 80% of its revenue from diapers, in an all cash deal for $1.2 billion.
Indonesia's market for personal care products is growing rapidly and this deal will significantly benefit Kimberly-Clark's position in the South Asian market. Kimberly-Clark’s dominant position as parent to brands like Huggies and Kleenex should certainly help grow the Softex brand.
Kimberly-Clark will buy Softex from a group of shareholders including CVC Capital Partners Asia Pacific IV and the deal is expected to close in the fourth quarter.