Coats Completes Acquisition of OrthoLite
London-based Coats Group has completed its acquisition of U.S.-based footwear insole maker OrthoLite.
Coats, a manufacturer of specialty threads and structural components for apparel and footwear, said the acquisition
“marks a major milestone in the company’s long-term growth plans and strengthens its existing footwear division through expansion into the attractive, high-growth premium insole segment”.
Coats noted that both companies have a
“similar customer base, a complementary global footprint and strong commitments to innovation and sustainability practices”.
“OrthoLite is one of the world’s most innovative manufacturers in footwear materials. With our combined capabilities, we’ll now be able to offer our customers more future-focused solutions for more of the shoe without compromising on the trusted quality both companies stand for,”said Coats CEO David Paja.
Author's summary: Coats acquires OrthoLite, expanding footwear division.