Indo Count Global, Inc., (ICG), a 100% U.S. based subsidiary of Indo Count has acquired Fluvitex USA, Inc., a part of Masias Invest, S.L., a renowned Spanish textile machinery firm since 1944. Fluvitex is a Pillow & Ouilt manufacturing company based in Columbus, Ohio with an annual production capacity of 5 million Pillows of different types and 1.5 million Ouilts. Fluvitex’s strategic location allows efficient distribution across the USA and Canada with a revenue potential of USD 50 mn. plus.
ICG has signed a definitive agreement for acquiring 81% stake of Fluvitex USA, Inc., from its promoter shareholder – Masias Invest, S.L., with an exclusive option to purchase the remaining 19% stake within the next 5 years. i.e. by September 30, 2029. The acquisition is funded by internal accruals and debt.
Indo Count Industries has acquired an 81 per cent stake in Fluvitex USA, a pillow and quilt manufacturer, with an option to buy the remaining 19 per cent by 2029.
This strategic move expands Indo Count’s presence in North America, enhancing its Utility Bedding segment with broader product offerings and improved distribution, aiming for $50 million in revenue.
Mr. Mohit Jain, Executive Vice Chairman, commented, “Acquiring Fluvitex is a critical move as it allows Indo Count to establish a fully integrated Utility Bedding business in the USA. Fluvitex’s state-of-the-art manufacturing facility and its strategic location will significantly enhance our ability to serve North American customers with a broader product range. This, along with the recent Wamsutta brand acquisition, represents a key milestone in Indo Count’s strategy to build a globally comprehensive Bedding portfolio.”
The acquisition is a pivotal step in Indo Count’s journey and is a stepping stone to establish a manufacturing footprint in the USA, thus enabling the Company to offer a diverse range of bedlinen products, including pillows, quilts, decorative pillows and other fashion-filled products to the large North American market.
Note: The content of this press release has not been edited by Fibre2Fashion staff.
Fibre2Fashion News Desk (RM)
