From Home Furnishing Business
IMC, AmericasMart Acquisition Complete
International Market Centers (IMC) has announced the finalized acquisition of AmericasMart Atlanta. The merger creates the world’s largest permanent mart for the furniture, gift, home décor, rug, and apparel industries.
The combined corporate entity, which will operate under the name “International Market Centers,” now owns and operates nearly 20 million square feet of permanent showroom space in Las Vegas, Nev., High Point, N.C., and Atlanta, Ga. The individual Markets and their respective venues will continue to operate under their existing names and branding.
“With this transaction complete, we have begun the process of bringing together best practices, technology, and personnel from both organizations,” said Robert Maricich, CEOf of International Market Centers. “Between now and year-end, we will diligently be working on the strategic blueprint for the next phase of our shared growth and value creation.”
IMC has contracted with leading consultancy, Bain & Company to work through the integration and blueprint process.
Blackstone Real Estate Partners and Blackstone Tactical Opportunities (Blackstone; NYSE: BX) acquired International Market Centers in 2017 in partnership with Fireside Investments.
“We are excited to be part of the next stage of growth for IMC and AmericasMart,” said Tyler Henritze, senior managing director and head of US real estate acquisitions at Blackstone. “This investment further demonstrates our long-term commitment to IMC’s B2B business platform for the home, gift and now apparel industries.”
In addition to this most recent investment, IMC recently announced plans to construct a new 300,000 square foot tradeshow and EXPO center on its World Market Center campus in Las Vegas, built a new 20,000 square foot showroom building in downtown High Point, acquired an existing showroom building in High Point, and launched a new digital platform to support its existing market business and drive year-round lead generation for its customers.
“Our goal at IMC has always been to provide the most efficient, effective and compelling business platforms to bring buyers and sellers together,” Maricich said. “In every industry we serve, the IMC team is dedicated to creating value and growth opportunities for our partners through world class customer service, amenities and technology advancements, and we remain steadfast to that goal.”
Financial terms of the transaction were not disclosed.