Kimberly-Clark Completes Acquisition of Softex Indonesia

Rhea-AI Summary

On October 1, 2020, Kimberly-Clark Corporation (NYSE: KMB) announced the successful acquisition of Softex Indonesia, a prominent player in the growing personal care market in Indonesia. This acquisition is aimed at enhancing Kimberly-Clark's market share in Southeast Asia's largest economy. CEO Mike Hsu emphasized the strategic growth potential through combined innovation and brand strength, while maintaining Softex's local market expertise. The transaction's impact on adjusted earnings per share for 2020 and 2021 is expected to be minimal.

Positive

• Acquisition strengthens market position in Southeast Asia's personal care sector.
• Potential for growth through combined innovation and brand management.

Negative

• None.

DALLAS, Oct. 1, 2020 /PRNewswire/ -- Kimberly-Clark Corporation (NYSE: KMB) 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," said 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 September 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.

About Kimberly-Clark
Kimberly-Clark and its trusted brands are an indispensable part of life for people in more than 175 countries. Fueled by ingenuity, creativity, and an understanding of people's most essential needs, we create products that help individuals experience more of what's important to them. Our portfolio of brands, including Huggies, Kleenex, Scott, Kotex, Cottonelle, Poise, Depend, Andrex, Pull-Ups, GoodNites, Intimus, Neve, Plenitud, Viva and WypAll, hold the No. 1 or No. 2 share position in 80 countries. We use sustainable practices that support a healthy planet, build stronger communities, and ensure our business thrives for decades to come. To keep up with the latest news and to learn more about the company's 148-year history of innovation, visit Kimberly-Clark.com.

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SOURCE Kimberly-Clark Corporation

FAQ

What is the significance of Kimberly-Clark's acquisition of Softex Indonesia?

The acquisition enhances Kimberly-Clark's market share in the fast-growing Indonesian personal care market, leveraging Softex's established brand portfolio.

How will the acquisition of Softex Indonesia impact Kimberly-Clark's earnings?

The impact on Kimberly-Clark's adjusted earnings per share for 2020 and 2021 is expected to be immaterial.

Who is the CEO of Kimberly-Clark?

The CEO of Kimberly-Clark is Mike Hsu.

When was the acquisition of Softex Indonesia completed?

The acquisition was completed on October 1, 2020.

What are the future prospects for Kimberly-Clark after acquiring Softex Indonesia?

Future growth is anticipated through enhanced market share, innovation, and brand management strategies.