A homegrown exporter of bed sheets, bed linen and quilts, Indo Count Industries has acquired its second overseas company within a month of acquiring a stake in Fluvitex USA Inc.
The company has bought a stake in another pillows and filled products manufacturer, Modern Home for $11.7 million. Registered in Delaware, Modern Home has a factory in Phoenix, Arizona produces nearly 8 million pillows annually.
Indo Count Industries had earlier bought an 81 per cent stake in the Ohio-based pillow and quilt manufacturer Fluvitex USA Inc for $19.63 million. It plans to buy the remaining 19 per cent shares of Fluvitex for $4.6 million over the next five years, taking the total deal value to $24.23 million. This acquisition adds a capacity of 5 million pillows and 1.5 million quilts to Indo Count’s portfolio.
Indo Count opines, these back-to-back acquisitions would help the company establish an integrated utility bedding business in the North American market. They would also increase Indo Count’s total manufacturing capacity in the US to 13 million pillows and an additional capacity of 1.5 million quilts annually.
Set up 25 years ago, Indo Count is led by Anil Kumar Jain, Promoter and Executive Chairman, Mohit Jain, Vice chairman and Kailash R Lalpuria, CEO.
The company owns a retail arm, Indo Count Retail Ventures in India which manages the home textiles brand ‘Boutique Living.’ It operates across several verticals in the textiles space including spinning, weaving and processing.
