Indo Count Industries’ subsidiary -- Indo Count Global, Inc. (ICG) has acquired majority stake of 81% in Fluvitex USA, Inc., initially with an exclusive option to buy the balance 19% stake later, by entering into a Stock Purchase Agreement with Masias Invest, S.L.
Fluvitex is a Pillow & Quilt manufacturing company based in Columbus, Ohio with an annual production capacity of 5 million Pillows of different types and 1.5 million Quilts. Fluvitex’s strategic location allows efficient distribution across the USA and Canada with a revenue potential of $50 million plus.
ICG has signed a definitive agreement for acquiring 81% stake of Fluvitex USA, Inc., from its promoter shareholder - Masias Invest, S.L., with an exclusive option to purchase the remaining 19% stake within the next 5 years. i.e. by September 30, 2029. The acquisition is funded by internal accruals and debt.
Indo Count Industries (ICIL) is the largest global home textile bed linen manufacturer.
