[dropcap]I[/dropcap]nternational Market Centers (IMC) announces the completion of its acquisition of AmericasMart Atlanta. The merger of the two B2B showroom operators creates the world’s largest permanent mart for the furniture, gift, home décor, rug, and apparel industries. Financial terms of the transaction were not disclosed.
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, High Point, and Atlanta. 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,” says Robert Maricich, Chief Executive Officer of IMC. “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,” says Tyler Henritze, Senior Managing Director & 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 apparel industries.”
In addition to this most recent investment, IMC recently built a 20,000-sq.-ft. showroom building in downtown High Point, launched a digital platform to drive year-round lead generation, and announced plans to construct a new 300,000-sq.-ft. tradeshow and EXPO center on its World Market Center campus in Las Vegas.
“Our goal at IMC has always been to provide the most efficient, effective, and compelling business platforms to bring buyers and sellers together,” Maricich comments. “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. We remain steadfast to that goal.”