The biggest producer of bed linens worldwide, Indo Count Industries Limited, has launched a calculated strategy to expand and fortify its Utility Bedding business.
A 100% U.S.-based subsidiary of Indo Count, Indo Count Global, Inc. (ICG) has purchased Fluvitex USA, Inc., a division of Masias Invest, S.L., a well-known Spanish textile machinery company founded in 1944. Based in Columbus, Ohio, Fluvitex is a Pillow and Fittings manufacturer capable of producing 1.5 million Fittings and 5 million different types of Pillows annually. Fluvitex has a revenue potential of USD 50 million or more due to its strategic location, which enables efficient distribution across the USA and Canada.
The promoter shareholder of Fluvitex USA, Inc., Masias Invest, S.L., has agreed to sell ICG an 81% ownership in the company. ICG will have the sole right to buy the remaining 19% of the company within the next five years, or by September 30, 2029. Funding for the acquisition comes from debt and internal accruals.
“Acquiring Fluvitex is a critical move as it allows Indo Count to establish a fully integrated Utility Bedding business in the USA,” stated Mr. Mohit Jain, Executive Vice Chairman. Our capacity to provide a wider range of products to North American consumers will be significantly improved by Fluvitex’s state-of-the-art manufacturing facilities and advantageous location. This, combined with the most recent acquisition of the Wamsutta brand, marks a significant turning point in Indo Count’s plan to develop an internationally diversified 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.
