IMC takes over AM
HIGH POINT, North Carolina – The U.S. trade event scene for furniture, furnishings, floor covering, gift ware and allied product categories as International Market Centers (IMC) merged with the Atlanta-based AmericasMart (AM) to become what they believe is the world’s largest owner and operator of premier showroom space.
The financial terms of the agreement were not unveiled but it is expect to close sometime in the third quarter.
The combined corporate entity will operate under the International Market Centers name, and will own and operate nearly 20 million square feet of permanent showroom space in Las Vegas, High Point, and Atlanta. The individual trade events they organise and their respective venues will continue to operate under existing names and branding.
In a statement, the companies said IMC and AmericasMart will bring together the best practices, technology, and personnel from both firms to create premier B2B market experiences across more than 20 annual events.
Robert Maricich, IMC’s serving chief executive officer will become 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. 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,” Maricich said in a statement.
AmericasMart houses the world’s single-largest collection of home decor, gift, area rug and apparel merchandise, with a complex comprising over 7.1 million square feet of space in downtown Atlanta. It hosts 17 annual markets and shows including the Atlanta International Gift & Home Furnishings Market and the Atlanta International Area Rug Market. They host over 4,500 exhibitors and nearly 200,000 attendees per year including international attendees from 80 countries and buyers from the top 100 retailers in the U.S.
International Market Centers is the world’s largest owner and operator of premier showroom space for the furniture, home decor and gift industries, with 12.2 million square feet of exhibition space in High Point and Las Vegas serving over 4,000 exhibitors and lines.
IMC has recently committed significant capital to expand both of its existing campuses. In Las Vegas, it will build a 350,000 square foot convention that will connect to the World Market Centre, where it holds a furniture, home décor and giftware trade twice each year. It recently acquired the Chaddock showroom building in downtown High Point and announced it will undertake and an extensive renovation of common areas throughout its properties which include the IHFC, Market Square, Showplace, Furniture Plaza, Plaza Suites, the National Building, 200 Steele St., Hamilton Properties, Hamilton Square, the Commerce & Design Building, 300 S. Main St. and the Christopher Guy showroom.
“This announcement to combine with AmericasMart coupled with our continued investment in High Point and Las Vegas demonstrates our enthusiasm about the expansion of our core business and our optimism for the future of markets for the furniture, home decor, gift and apparel industries,” Maricich said.