India's Indo Count Industries has acquired an 81 percent stake in Groveport-based Fluvitex USA, a manufacturer of pillows and quilts owned by Spain's Masias Invest. Indo Count also has an option to buy the remaining 19 percent by 2029.
This strategic move expands Indo Count's presence in North America, enhancing its Utility Bedding segment with broader product offerings and improved distribution, aiming for $50 million in revenue.
Fluvitex has an annual production capacity of 5 million pillows and 1.5 million quilts. It's location allows efficient distribution across the United States and Canada with a revenue potential of more than $50 million.
Indo Count Industries, a leading global provider of linens, made the acquisition through Indo Count Global, a U.S.-based subsidiary.
"Acquiring Fluvitex is a critical move as it allows Indo Count to establish a fully integrated utility bedding business in the USA," Indo Count Executive Vice Chairman Mohit Jain said in a statement. "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."
