Indo Count Industries has successfully completed the acquisition of Home Textile business of GHCL, at Bhilad (Vapi), Gujarat, on a going concern basis by way of a slump sale and acquisition of specified assets of Grace Home Fashions LLC (GHF), US subsidiary of GHCL for an all-cash consideration of Rs 592.8 crore (subject to validation of customary closing date adjustment of working capital in terms of BTA and ATA).
This acquisition will catapult Indo Count to a leadership position in the Global Home Textiles Bedding segment. Indo Count becomes the world's largest Home Textile bedding manufacturer, with an annual capacity of 153 million meters. Potential addition of Rs 1,300-1,500 crore p.a. to the topline of the Company at peak capacity.
Indo Count Industries is engaged in the manufacturing of 100% grey combed cotton yarn and knitted fabric. Its product range includes Cotton yarn, Knitted fabrics and Dyed yarn and core-spun yarn.
