Indo Count Industries subsidiary has acquired a 100% stake in Modern Home Textiles

Indo Count is a specialty end-to-end bedding provider, and their sole objective is to create holistic sleep experiences. We aim to expand into new markets every year. Our passion and global outlook have allowed us to enter 49 markets thus far. As their preferred partner, we collaborate with a number of the world’s most recognizable retail, hospitality, and fashion brands. We respond to client needs promptly and nimbly, offering solutions that enhance clients’ quality of life. Over the preceding 25 years, we have laid a strong foundation on which our expanding, successful company has been built.

Indo Count Industries Limited is expanding its roots in the USA

Indo Count Industries Limited has acquired another company in less than five weeks, more than doubling its capacity to produce pillows in the United States. The largest 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 products. Jackie Spinella Waters launched the business in September 2023, and it can make 8 million pillows a year. The price of the transaction was not disclosed.

Indo Count Global acquired Fluvitex USA

Last month, ICG acquired a 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. The latest strategic acquisition expands Indo Count’s U.S. capabilities as well as its distribution base, with plants located in the Midwest and Western U.S.

Anil Kumar Jain Statement

In the utility bedding market, Modern Home Textiles offers cutting-edge, environmentally friendly solutions that help us better serve our clients and grow our market share in the United States. The executive chairman of Indo Count, Anil Kumar Jain, stated, “Our investments made in the USA over the past few months demonstrate our commitment to increase job opportunities and further strengthen our brand.”

Spinella Waters will become an employee of ICG and work in the sales department as per the terms of the contract. She told HTT, “We are excited to collaborate with Indo Count Global because we have similar future visions.” The goal of our combined efforts is to better serve our customers and grow faster as a company.

ICG is capable of producing up to 13 million pillows.

ICG will be able to produce 13 million pillows in the United States with the addition of 1.5 million quilts thanks to these two acquisitions. The total anticipated revenue at full capacity is expected to exceed $85 million.

ICG reported that there is no overlap in the customer bases of Fluvitex USA and Modern Home Textiles, “thus providing a strong projected growth.” The U.S. investments are a component of Indo Count’s broader strategy to develop substantial pillow manufacturing capacities to cater to North American clients.

Stock in Indo Count Industries Ltd. increased by 1% today.

The stock of Indo Count Industries Ltd. is currently trading at Rs. 363.00 per share, with a high of Rs. 376.95 per share. Given ICG’s current expansion, strong sales numbers are anticipated soon.

Disclaimer: This blog has been written exclusively for educational purposes. The securities mentioned are only examples and not recommendations. It is based on several secondary sources on the internet and is subject to changes. Please consult an expert before making related decisions.