Fluvitex’s strategic location allows efficient distribution across the USA and Canada with a revenue potential of $50 million plus.
Indo Count Industries, the largest global bed linen player, announced a strategic move to strengthen and grow its utility bedding segment.
Indo Count Global (ICG), a 100 per cent US based subsidiary of Indo Count has acquired Fluvitex USA, Inc, a part of Masias Invest, SL, a renowned Spanish textile machinery ï¬rm since 1944. Fluvitex is a pillow and Ç«uilt manufacturing company based in Columbus, Ohio with an annual production capacity of 5 million pillows of different types and 1.5 million quilts. Fluvitex’s strategic location allows efficient distribution across the USA and Canada with a revenue potential of $50 million plus.
ICG has signed a deï¬nitive agreement for acquiring 81 per cent stake of Fluvitex USA, Inc, from its promoter shareholder – Masias Invest, SL, with an exclusive option to purchase the remaining 19 per cent stake within the next 5 years. i.e. by September 30, 2029. The acquisition is funded by internal accruals and debt.
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 signiï¬cantly 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-ï¬lled products to the large North American market.