To put it briefly:
- Indo Count has purchased a 100% share in Phoenix, Arizona-based Modern Home Textiles Inc., which produces eight million pillows a year.
- The transaction comes after it purchased the majority of Fluvitex USA Inc. in Columbus, Ohio, last month.
- A total of 13 million pillows and 1.5 million quilts will be manufactured in the United States, with an anticipated revenue of over $85 million when operating at full capacity.
Mumbai: With its second acquisition in less than five weeks, Indo Count Industries Limited has more than doubled its capacity to produce pillows in the United States.
The large Indian manufacturer’s fully owned U.S. subsidiary, Indo Count Global Inc. (ICG), has purchased a 100% share in Modern Home Textiles Inc., a Phoenix, Arizona-based company that produces a variety of pillows and other filled utility bedding goods. Jackie Spinella Waters established the business in September 2023, and it can make 8 million pillows a year.
The transaction’s cost was not revealed.
ICG purchased the majority of Fluvitex USA Inc., a Columbus, Ohio-based pillow and quilt manufacturer with a capacity of 5 million pillows and 1.5 million quilts, last month.
With operations in the Midwest and Western U.S., the most recent strategic purchase broadens Indo Count’s U.S. capabilities and distribution network.
“In the utility bedding market, Modern Home Textiles offers creative, eco-friendly solutions that help us better serve our clients and grow our U.S. footprint. The executive chairman of Indo Count, Anil Kumar Jain, stated, “Our investments over the last few months in the USA underscore our commitment to creating more employment opportunities and further strengthen our brand.”
As per the agreement, Spinella Waters will become a member of ICG’s sales team.
“We have a shared vision for the future, so we are excited to work with Indo Count Global,” she told HTT. “As we work together, we aim to increase our growth and give our customers better value.”
ICG will have 13 million pillows and 1.5 million quilts in total manufacturing capacity in the United States after these two purchases. The anticipated total revenue at full capacity will exceed $85 million.
Modern Home Textiles and Fluvitex USA’s customer bases do not overlap, “thus providing a strong projected growth,” ICG declared.
The U.S. investments are a component of Indo Count’s broader strategy to develop substantial pillow manufacturing capabilities in order to cater to North American consumers.
Count’s hectic year
2024 has been a busy year for Indo Count Industries, which prides itself on being the world’s largest producer of bed linens.
For $10.25 million in cash and the assumption of some liabilities, Indo Count purchased the Wamsutta home textiles brand from Beyond Inc. in March. After then, the business signed licensing contracts for the Waverly and Fieldcrest brands. Sheets, utility bedding, fashion bedding, bath and window treatments, and many more product categories are covered by the licenses, which are valid for both the U.S. and Canadian markets.
With an estimated volume of $504 million in 2023, Indo Count ranked as the fourth largest supplier to the United States. The company was a leading supplier of sheets when it first entered the North American market. Since then, it has expanded through acquisitions as well as organic growth by branching out into new product areas. Its capabilities were significantly increased by its 2022 acquisition of GHCL’s home textiles section, and Indo Count has since increased its operational investments.
The company received recognition in the category of Home Textiles Supplier or Manufacturer Demonstrating Excellence in Business Expansion at the Home Excellence Awards Gala held during the New York Home Fashions Market last month.
