In January 2016, funds advised by CVC has completed the acquisition of a significant minority stake in PT Softex Indonesia, a leading consumer goods company that manufactures and sells paper-based personal care products in Indonesia.
Founded in 1941, the Company has a long heritage in Indonesia. The Company started selling sanitary napkins in 1976 under the Softex brand, and launched its own baby diaper brand in 1994.
Indonesia is the fourth most populous country in the world with over 250 million population and a high growth rate. The underlying consumer demographic and market growth trends are very favourable for consumption. With increased affluence, personal hygiene is becoming more important and disposable hygiene products are quickly moving from being luxury goods to becoming essential items.
Today PT Softex Indonesia is the 2nd largest player in the overall baby diaper and adult diaper markets, and the 3rd largest player in the feminine care market. The Company is well positioned for growth, which will further be supported by CVC's new capital investment.
We look forward to partnering with CVC to support the next stage of our growth. Their industry expertise and financial resources will ensure our continued success in building household brands and help strengthen our industry leading-position in Indonesia," said Hendra Setiawan, Chief Executive Officer of PT Softex Indonesia.