05 April 2022, Mumbai:
Leading manufacturer and exporter of home textiles, Indo Count Industries has acquired the home textile business of GHCL in Gujarat, through slump sale and acquisition of specified assets of Grace Home Fashions LLC for Rs 592.8 crore.
The acquisition will catapult Indo Count to a leadership position in the Global Home Textiles Bedding segment: The company will become the world's largest home textile bedding manufacturer, with an annual capacity of 153 million meters.
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It will add ~ Rs.1,300 - 1,500 crore p.a. to the top line of the company at peak capacity Indo Count will add a whole new avenue of customer base which is untapped, thereby leading to a gain in global market share.
RELATED NEWS Indo Count Industries Ltd set to acquire 'GHCL Ltd, Home Textile business'
Current customers of GHCL Home Textile business will gain access to ICIL's full product portfolio consisting of fashion, utility, and institutional bedding The customer-centric approach will enable ICIL to be more flexible and strengthen customer service levels resulting in a strong Global Supplier and Brand in the Home Textile Industry.
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