Coats, known worldwide for its threads and structural components used in apparel and footwear, has taken a big step forward. The company has signed a deal to acquire OrthoLite Holdings LLC, a global leader in high-quality insoles.
This move is part of Coats’ strategy to become a top player in the footwear materials space.
OrthoLite is not just any insole brand. It’s trusted by major footwear companies around the world. Its focus on comfort, performance and sustainability makes it a perfect match for Coats. By joining forces, the two companies aim to offer even better value to customers.
This acquisition also includes Cirql, a newly launched foam technology by OrthoLite. Cirql focuses on midsoles and is made to be either biodegradable or fully recyclable.
With this deal, Coats hopes to grow stronger in the footwear market. OrthoLite’s solid customer base and eco-conscious approach align well with Coats’ long-term goals.
Together, they can reach more brands, expand their global footprint and offer new innovative materials.
“It brings together two global leaders in adjacent segments of the footwear components market with a shared vision for innovation and sustainability and with unparalleled brands and customer relationships.”
David Paja,
Chief Executive Officer, Coats Group
“I’m excited to merge OrthoLite, the footwear innovation business that I founded 28 years ago with Coats Group plc. This alliance forms a powerful partnership of industry leaders to provide a platform for OrthoLite and Cirql to continue to serve our customers with the most innovative and sustainable footwear components in the world.”
Glenn Barrett,
Founder and CEO, OrthoLite
Source – Coats Group
