Indo Count Industries Ltd., India’s global bed linen manufacturer, has announced the acquisition of Modern Home Textiles Inc., a Phoenix-based utility bedding producer. The purchase, made through Indo Count’s US subsidiary, Indo Count Global Inc. (ICG), adds an annual capacity of 8 million pillows to the company’s portfolio.
The shares of Indo Count Industries Ltd. were trading at ₹368.45 up by ₹6.95 or 1.92 per cent on the NSE today at 10.10 am.
This move follows ICG’s recent majority stake acquisition in Fluvitex USA Inc., an Ohio-based pillow and quilt manufacturer. The combined acquisitions give Indo Count a total US production capacity of 13 million pillows and 1.5 million quilts annually, with an expected revenue of over $85 million at full capacity.
Anil Kumar Jain, Executive Chairman of Indo Count, stated that the acquisitions will accelerate the company’s growth in the utility bedding segment and enhance its market reach in North America. The strategic locations in the Midwest and West Coast are expected to provide efficient distribution to customers.
These investments are part of Indo Count’s larger plan to significantly expand its pillow manufacturing capabilities for the North American market. The company also highlighted its commitment to creating jobs in the United States through these acquisitions.
