Indo Count Industries Expands US Presence with Fluvitex Acquisition

Indo Count Industries Ltd has announced the acquisition of an 81% stake in Fluvitex USA, Inc, expanding its foothold in the North American market. This strategic move aims to enhance its utility bedding segment and broaden its product range. The acquisition is funded through internal accruals and debt.

Indo Count Industries Ltd, a global player in the bed linen market, has revealed its acquisition of an 81% stake in Fluvitex USA, Inc. The US-based subsidiary signed a definitive agreement with Fluvitex's promoter shareholder, Masias Invest, SL.

The strategic move, funded by internal accruals and debt, is aimed at strengthening Indo Count's utility bedding segment. The acquisition includes an option to purchase the remaining 19% stake within the next five years, by September 30, 2029.

Fluvitex, located in Columbus, Ohio, manufactures pillows and quilts, boasting an annual production capacity of 5 million pillows and 1.5 million quilts. The facility's strategic location will enable Indo Count to distribute products efficiently across the USA and Canada, tapping into a revenue potential of over USD 50 million.

(With inputs from agencies.)