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Mergers & Acquisition

Indo Count Acquires Pillow and Quilt Manufacturer Fluvitex USA

• By  Textile Excellence
• September 16, 2024

Indo Count Industries Ltd., the largest global bed linen player, today announced a strategic move to acquire US based comfort product manufacturer Fluvitex USA, Inc. This is expected to enhance Indo Count’s position in utility bedding segment especially pillows and comforters.

The acquisition is done through Indo Count Global Inc. - a 100% U.S. based subsidiary of Indo Count Industries. Fluvitex USA Inc. is a part of Masias Invest S.L., a renowned Spanish textile machinery manufacturer. Fluvitex is a pillow and quilt 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 US$ 50 million plus.

Indo Count Global has signed a definitive agreement for acquiring 81% stake of Fluvitex USA, Inc., from Masias Invest with an exclusive option to purchase the remaining 19% stake within the next 5 years. i.e. by September 30, 2029. Indo Count has funded the purchase through internal accruals and debt. However, it did not disclose the transaction value.

Commenting on the development Mohit Jain, Executive Vice Chairman, Indo Count said, "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 significantly 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 it to offer a diverse range of bedlinen products, including pillows, quilts, decorative pillows and other fashion-filled products to the large North American market.

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 significantly enhance our ability to serve North American customers with a broader product range. - Mohit Jain, Executive Vice Chairman, Indo Count Industries