Indo Count acquisition

Indo Count Industries Strengthens U.S. Presence with Strategic Acquisition of 81% Stake in Fluvitex USA

In a bold move to strengthen its foothold in North America, Indo Count Industries, the world’s largest bed linen manufacturer, has acquired an 81% stake in Fluvitex USA, Inc. This strategic acquisition positions Indo Count to dominate the U.S. bedding market while expanding its product range. But what does this mean for the future of home textiles in North America? Let’s explore!

The Power Move: Indo Count Acquires 81% Stake in Fluvitex USA

On a growth trajectory, Indo Count Industries, through its wholly owned subsidiary Indo Count Global, has acquired a significant 81% stake in Fluvitex USA, Inc., a renowned pillow and quilt manufacturing company based in Columbus, Ohio. This acquisition marks a critical milestone in Indo Count’s strategy to expand its footprint in the North American market.

The agreement, which also gives Indo Count Global the exclusive option to acquire the remaining 19% stake within the next five years (by September 30, 2029), was funded through a mix of internal accruals and debt. The deal was sealed with Masias Invest, S.L., a reputable Spanish textile machinery firm that has been a leader in the industry since 1944.

Fluvitex USA: A Strategic Hub for North American Distribution

Fluvitex USA’s manufacturing plant, with an annual production capacity of 5 million pillows and 1.5 million quilts, is located in Columbus, Ohio—an ideal strategic location for efficient distribution across the USA and Canada. The company’s capacity and geographical advantage are expected to unlock significant revenue potential, with estimates projecting earnings of over USD 50 million.

With the acquisition, Indo Count is set to elevate its product offerings in the North American market. The company will now be able to manufacture and distribute a wider range of bed linen products, including pillows, quilts, decorative pillows, and other fashion-filled products, catering to the ever-growing demand for home textiles in the region.

Indo Count’s Vision: Building a Comprehensive Global Bedding Portfolio

Mohit Jain, Executive Vice Chairman of Indo Count Industries, hailed the acquisition as a critical step in Indo Count’s global strategy. “Acquiring Fluvitex is a game-changer for Indo Count, as it establishes 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,” said Jain.

This acquisition is part of Indo Count’s long-term vision of building a globally comprehensive Bedding portfolio. It follows closely on the heels of the company’s recent acquisition of the iconic Wamsutta brand, reinforcing Indo Count’s commitment to becoming a major player in the global bedding industry.

Indo Count’s Stellar Growth: A Look at the Numbers

Indo Count Industries has been on a strong growth trajectory. In Q1 FY25, the company reported a consolidated net profit of Rs 77.80 crore, representing a 5.51% increase over the same period in the previous year. Sales surged by 26.97% to Rs 941.43 crore, further solidifying Indo Count’s position as the largest global home textile bed linen manufacturer.

Conclusion:

Indo Count’s acquisition of an 81% stake in Fluvitex USA signals the company’s unwavering commitment to expanding its presence in the North American bedding market. With this acquisition, Indo Count is well on its way to building a comprehensive, integrated, and diverse Bedding portfolio, catering to the growing demand for high-quality home textiles in the region. Indo Count acquisition, As Indo Count continues to expand its global footprint, the North American market stands to benefit from a broader range of innovative, fashion-forward bedding products.

FAQs:

1.Who is the CEO of Indo Count Industries?

A. Kailash R. Lalpuria, Executive Director & CEO of Indo Count Industries Limited, is a well renowned personality in the textile industry.

2.What do Indo-Count Industries do?

A. Indo Count Industries Limited (ICIL) is engaged in the home textiles & bedding industry. The company is a manufacturer and exporter of bed sheets, bed linen and quilts. It is the largest global bed linen player.