CVC commits growth capital to Indonesia's Softex

Founded in the 1970s as an apparel manufacturer, Softex moved into the female consumer products space after it was noted that factory workers were taking home unwanted remnants of fabric to use as sanitary towels. In Sweety, Softex and Confidence, the company has the top three brands across the baby, adult and feminine care product categories.

Softex is expected to see continued growth on the back of Indonesia's young demographics - 45% of the population is aged below 25 and around four million children are born each year. Rising consumption driven by rapid urbanization and an emerging middle class is another contributing factor.

CEO Hendra Setiawan, who has been with Softex since 2001, said CVC's capital and expertise would be used to strengthen the company's leading position in the domestic market.

"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," Andy Purwohardono, a managing director at CVC, said in a statement.

CVC has two existing portfolio companies in Indonesia, Matahari Department Store and Link Net, both of which went public.

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• Topics
• Southeast Asia
• Consumer
• Expansion
• Consumer
• Growth capital
• Southeast Asia
• Indonesia
• CVC Capital Partners