International Market Centers and AmericasMart Finalize Merger
July 24, 2018
International Market Centers (IMC) and AmericasMart Atlanta have completed an agreement to create world’s largest owner and operator of top-tier permanent showroom space for the furniture, gift, home décor, rug and apparel B2B industries.
Operating under the name “International Market Centers,” the combined corporate entity now owns and operates nearly 20 million square feet of permanent showroom space in Las Vegas, High Point, N.C. and Atlanta, as well as more than 20 annual events.
Financial terms of the transaction were not disclosed.
The individual Markets and their respective venues will continue to operate under their existing names and branding, while IMC has contracted with consultancy company, Bain & Company, to work through the integration and blueprint process, according to IMC officials.
“With this transaction complete, we have begun the process of bringing together best practices, technology and personnel from both organizations,” said Robert Maricich, CEO 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.”
Prior to the AmericasMart merger, IMC already had bragging rights as the largest global owner and operator of premier showroom space for the furnishings, home decor and gift industries, boasting 12.2 million square feet of premium exhibition space in High Point and Las Vegas catering to over 4,000 exhibitors and lines.
“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 U.S. Real Estate Acquisitions at Blackstone Group, which acquired IMC in partnership with Fireside Investments in 2017.
He added, “This investment further demonstrates our long-term commitment to IMC’s B2B business platform for the home, gift and now apparel industries.”
With a complex comprising more than 7.1 million sq. ft. of space in downtown Atlanta, AmericasMart houses the world’s single-largest collection of home decor, gift, area rug and apparel merchandise.
The sprawling venue hosts 17 annual Markets and shows, including The Atlanta International Gift & Home Furnishings Market and The Atlanta International Area Rug Market, which regularly serve more than 4,500 exhibitors and welcome nearly 200,000 attendees annually, including international attendees from 80 countries and buyers from the top 100 U.S. retailers.
In addition to the AmericasMart transaction, IMC has been busy committing significant capital to expand its two existing showroom campuses in High Point and Las Vegas, including recently announced plans to construct a new 300,000 sq. ft. trade show and EXPO center on its World Market Center campus in downtown Las Vegas; the completion of a new 20,000 sq. ft. showroom building and the acquisition of an existing showroom building in High Point, and the launch of a new digital platform designed to support IMC’s existing market business and drive year-round customer lead generation.
“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.
He continued, “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.”
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