CVC Capital Partners announced today that funds advised by CVC Capital Partners have taken a significant minority stake in PT Softex Indonesia, a leading consumer goods company in Indonesia.
With market-leading brands - Sweety, Softex and Confidence - PT Softex Indonesia boasts top three market share positions across the baby, adult and feminine care product categories. PT Softfex Indonesia is perfectly positioned for growth, which will be further accelerated by CVC’s growth capital investment.
Indonesia is the fourth most populous country in the world, with 45% of Indonesia's 250 million people under the age of 25 – a trend that is set to continue, with approximately four million children expected to be born annually. This, combined with an emerging middle class and rapid urbanization, has resulted in significant and increasing consumer demand for lifestyle products that provide convenience and comfort, such as sanitary care products.
"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.
Andy Purwohardono, Managing Director of the CVC Indonesia office, said, "PT Softex Indonesia is already a key player in the personal care space with a compelling track record and leading brands. We look forward to working closely with Hendra and his team to take the business to the next level."
This will be CVC's fourth investment in Indonesia, making CVC the most active global private equity firm in the Indonesian market. CVC previously completed successful IPOs of Matahari Department Store and Link Net at the Indonesian stock exchange.