The American wholly owned subsidiary of Indo Count Industries, Indo Count Global, Inc. (ICG), has purchased a 100% share in Modern Home Textiles, Inc., a Phoenix, Arizona-based company that produces 8 million pillows annually and a variety of pillows and other filled products (Utility Bedding).
Additionally, this month, ICG purchased the majority of Fluvitex USA, Inc., a Columbus, Ohio-based manufacturer of pillows and quilts with a capacity to create 1.5 million quilts and 5 million pillows. The establishment of an integrated utility bedding business for the North American market is facilitated by these consecutive acquisitions. The two acquisitions are located in different regions—one in the Midwest and the other on the West Coast—which gives both current
Mr. Anil Kumar Jain, Executive Chairman, commented, it brings us great pleasure to include Modern Home Textiles in the ICIL Group. Indo Count’s goal to expand the Utility Bedding industry will be expedited by this calculated acquisition, which will also greatly expand its capabilities and reach. In the utility bedding market, Modern Home Textiles offers cutting-edge, environmentally friendly solutions that improve customer service and let us grow our market share in the US. Our recent investments in the United States demonstrate our dedication to expanding job opportunities and fortifying our brand.
The combined manufacturing capacity in the USA with these two purchases will be 13 million pillows yearly and an extra 1.5 million quilts. The entire anticipated revenue at full capacity is more than USD 85 million. Because the customer bases of Fluvitex and Modern Home Textile do not overlap, there is a significant likelihood of growth. These investments by Indo Count Global, USA are a part of a bigger strategy to increase manufacturing capacity significantly in order to better serve North American utility bedding clients.
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