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Mergers & Acquisition

Indo Count Acquires Modern Home Textiles Inc., Spreads Its Utility Bedding Business

• By  Textile Excellence
• October 14, 2024

Indo Count Industries Ltd., the largest global bed linen player, is in an acquisition spree and added Modern Home Textiles, Inc. to its kitty in a strategic move to widen the portfolio in Utility Bedding segment. 

Indo Count Industries has acquired 100% stake in Modern Home Textiles, Inc., manufacturer of wide range of pillows and other Utility Bedding products through its U.S. based wholly owned subsidiary Indo Count Global, Inc. (ICG). Modern Home Textiles has its facility at Phoenix, Arizona with an annual capacity to produce 8 million pillows. 

Earlier in September, ICG acquired majority stake in Fluvitex USA, Inc., a pillow and quilt manufacturing company based in Columbus, Ohio which has the capacity to produce 5 million pillows and 1.5 million quilts. This back-to-back acquisitions would help Indo Count to establish itself as an integrated utility bedding supplier across the North American Market. With its manufacturing facilities located in Midwest and the West Coast, the company has ensured efficient distribution to both existing and prospective customers. 

Anil Kumar Jain, Executive Chairman, commenting on the development said "We are delighted to have Modern Home Textiles in the ICIL Group. This strategic acquisition will not only accelerate Indo Count's ambition to grow the Utility Bedding segment but also significantly enhance its capabilities and market reach. Modern Home Textiles brings innovative sustainable solutions in the utility bedding segment allowing us to serve our customers better and enable us to further expand our US presence. Our investments over the last few months in the USA underscore our commitment to creating more employment opportunities and further strengthen our brand.” 

After these acquisitions, Indo Count’s total manufacturing capacity in USA has been enhanced to 13 million Pillows and an additional capacity of 1.5 million Quilts annually. At this capacity, the total expected revenue potential is US$ 85 million plus. Also, the customer base in both Fluvitex and Modern Home Textile are not overlapping, thus, brings a strong projected growth. These investments by Indo Count Global, USA are part of a larger plan to build significant capacities in pillow manufacturing to service the utility bedding customers in North America. 

We are delighted to have Modern Home Textiles in the ICIL Group. This strategic acquisition will not only accelerate Indo Count's ambition to grow the Utility Bedding segment but also significantly enhance its capabilities and market reach. Modern Home Textiles brings innovative sustainable solutions in the utility bedding segment allowing us to serve our customers better and enable us to further expand our US presence.” - Anil Kumar Jain, Executive Chairman, Indo Count Industries