STOCKWATCH

Indo Count Industries Acquires Modern Home Textiles for USD 13.81 Million

Indo Count Industries Limited, through its wholly owned subsidiary Indo Count Global, Inc., has acquired 100% stake in Modern Home Textiles, Inc., a Delaware, USA-based company engaged in manufacturing and offering a wide range of utility bedding products. The acquisition, done through a Stock Purchase Agreement, includes a purchase price of USD 11.7 million and an inventory of USD 2.11 million, subject to certain adjustments. Modern Home Textiles, Inc. has its facility located at Phoenix, Arizona, with an annual production capacity of 8 million pillows. This acquisition will help Indo Count Industries improve its presence in the utility bedding segment in North America, thereby increasing its market share.

• Acquisition of 100% stake in Modern Home Textiles, Inc. by Indo Count Global, Inc.
• Purchase price of USD 11.7 million and inventory of USD 2.11 million
• Modern Home Textiles, Inc. is a utility bedding manufacturer with a facility in Phoenix, Arizona
• Annual production capacity of 8 million pillows
• Acquisition aims to improve Indo Count's presence in the utility bedding segment in North America