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Purchase strengthens its position in the Southeast Asian personal care market
October 1, 2020
By: Tara Olivo
Associate Editor at Nonwovens Industry
Kimberly-Clark Corporation today announced the closing of its previously announced acquisition of Softex Indonesia, a leader in the fast-growing Indonesian personal care market. “This acquisition accelerates our growth with strong market share in key personal care categories across Southeast Asia’s largest economy,” says Mike Hsu, chairman and CEO, Kimberly-Clark. “As we move ahead, we will leverage our combined strengths in innovation and brand building while maintaining the local market expertise and advantages that Softex Indonesia has built with its strong portfolio of brands.” As indicated in its Sept. 3, 2020, press release, the impact of the transaction on Kimberly-Clark’s adjusted earnings per share in 2020 and 2021 is expected to be immaterial.
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