[dropcap]L[/dropcap]as Vegas and High Point, N.C.-based International Market Centers (IMC) and Atlanta-based AmericasMart [Atlanta] (AmericasMart) have entered into an agreement to form what will become the world’s largest owner and operator of premier showroom space. Financial terms of the transaction were not disclosed.
The new combined corporate entity will be known as “International Market Centers” and will be comprised of nearly 20 million square feet of permanent showroom space in Las Vegas, High Point, and Atlanta, creating the largest permanent mart operator for furniture, home décor, rug, gift, and apparel.
The individual Markets and their respective venues will continue to operate under existing names and branding.
Robert Maricich, the current CEO of IMC, will serve as CEO of the combined entity. “IMC has always had immense respect for AmericasMart and its founders, the Portman family, who established a tremendous reputation in the industry,” he says. “We look forward to bringing together our two companies to provide exhibitors with exceptional access to global Markets, and buyers with even more convenient opportunities to explore top products across sectors.”
“AmericasMart has long served as a crossroads of commerce,” notes Jeffrey L. Portman, Sr. “This joining of the incredibly powerful talents and resources present in both organizations will sustain and advance that role for the ultimate benefit of the customers we jointly serve,” he adds. Jeff Portman will be an advisor to the Board of IMC.